18.5% Dividend Recommended: Buy Miniratna PSU For TP Rs 600, Shares Gain 302% In 12-Months

Miniratna public sector undertaking RailTel Corporation of India Ltd today recommended final dividend of Rs 1.85/- per share for financial year 2023-24. Current market price of RailTel Corporation of India share on BSE is Rs 534.90 per share with intraday gain of 2.83%. RailTel Corporation of India shares offered return of 302% in last 1-year and zoomed 471% in last 2-years. The PSU bagged work order worth Rs 23,96,16,993 (Including Tax) from Webel Technology Limited on July 4, 2024. The company has a market capitalisation Rs 17, 167.00 crore. Check details below:

RailTel Corporation of India Declares Dividend: As per the regulatory filing of RailTel Corporation of India dated July 8, 2024, "Board of Directors of the Company at its meeting held today i.e. Monday, 08th July, 2024 has recommended a Final Dividend at the rate of 18.5% of paid-up share capital (Rs. 1.85/- per share) for the financial year 2023-24. This Final Dividend is in addition to Interim Dividend of Rs. 1.00/- per share already paid by the Company for the financial year 2023-24. The Final Dividend is subject to approval of shareholders in the ensuing Annual General Meeting ("AGM"). The Final Dividend would be paid within 30 days from the date of its declaration at the AGM."

RailTel Corporation of India Bags Order On July 4, 2024: As per the BSE filing of Railtel issued as on July 4, 2024, "Pursuant to Regulation 30 read with Part A (B) of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that RailTel Corporation of India Ltd. ("the Company") has received the work order from Webel Technology Limited for Work Order amounting to Rs. 23,96,16,993 (Including Tax)."

RailTel Corporation of India Share Performance: The 52-week high price of RailTel Corporation shares on BSE is Rs 559.35 apiece (as on 08/07/2024) and 52-week low price is Rs 129.50 apiece (as on 07/07/2023), respectively. RailTel Corporation shares offered return of 41% in last 1-month, gained 54% in last 6-months, and surged 274% in last 3-years.

Should You Buy RailTel Corporation Shares? Axis Direct has suggested buy call to Railtel share with target price of Rs 540 and keep stop loss at Rs 510. Meanwhile, 5paisa.com also assigned buy call to Railtel shares. According to Ruchit Jain, Lead Research, 5paisa.com, "Investors can buy the stock in the range of Rs 490-480 for a potential target of Rs 600. The stop loss on long positions should be placed below Rs 430."

About: RailTel Corporation a "Mini Ratna (Category-I)" PSU is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optical fiber network. RailTel is committed to bring cutting edge technology and offer innovative services to the Indian Telecom market. RailTel is in the forefront in providing nationwide Broadband Telecom & Multimedia Network in all parts of the country in addition to modernization of Train operations and administration network systems, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of 5paisa.com and Axis Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.