Railway PSU Dividend Soon: BSE Smallcap Stock Bags New Order From Guj Govt, What Is TP To Buy?

BSE smallcap Navratna public sector undertaking (PSU) RailTel Corporation of India Ltd today received new order from Gujarat government. RailTel Corporation of India shares surged 4.07% in late afternoon trade. Current market price of RailTel Corporation Ltd shares on BSE is Rs 412.85 per share. The company will consider and approve its financial results on October 28 and consider the proposal of declaring an interim dividend too, if any.

Meanwhile, brokerage firm StoxBox recommended buy call with target price of Rs 500 per share. HDFC suggested buy call with target price of Rs 458 for a target time of 10-days. RailTel Corporation of India shares gained 91% in last 1-year and 286% in last 1-year. Its market capitalisation as on October 24 stood at Rs 13,265.99 crore.

RailTel Corporation of India Bags New Order: As per the exchange filing of RailTel Corporation of India dated October 24, 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 Home Department, Government Of Gujarat for Project amounting to Rs. 1,44,88,48,888 (Including Tax)."

RailTel Corporation of India To Consider Financial Results, Dividend: As per the BSE filing of RailTel Corporation of India issued as on October 21, "a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 28th October, 2024, inter-alia for the following:-
i. To consider and approve unaudited Financial Results for the quarter and half year ended on 30th September, 2024.
ii. To declare Interim Dividend, if any, for the Financial Year 2024-25."

Railtel Sets Record Date For Dividend: The Company has fixed Wednesday, 06th November, 2024 as "Record Date" for the purpose of determining the eligibility of Members entitled to receive the Interim Dividend for the FY 2024-25, if any, which is subject to approval of the Board. The Interim Dividend would be paid within 30 days from the date of its declaration at the Board Meeting, added the exchange filing.

RailTel Corporation of India Dividend History: It declared 8 dividends since March 31, 2021. In last 1-year, RailTel Corporation of India recommended an equity dividend amounting to Rs 2.85 per share. At the current share price of Rs 412.85, RailTel Corporation of India offers a dividend yield of 0.69%.

Buy Call: Leading brokerage firm StoxBox said, "the relative strength index on the daily timeframe has begun to reverse from its oversold territory, indicating an increase in price momentum. Given the favourable risk-to-reward ratio, we recommend buying RailTel with a target price of Rs 500 and maintaining a stop loss at Rs 400 for the medium term."

On the other hand, Brokerage firm HDFC Securities on October 18, 2024 assigned buy call to RailTel shares with target price of Rs 458 per share for a target period of 1 0 days. The brokerage urged to keep the stop loss at Rs 403 apiece.

RailTel Corporation of India Shares Performance: The 52-week high price of RailTel Corporation shares on BSE is Rs 618.00 per share (as on 12/07/2024) and 52-week low price is Rs 202.45 per share as on (26/10/2023), respectively. RailTel Corporation shares fell 18% in last 3-months, soared 16% ytd, rallied 200% in last 3-years.

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 HDFC Securities and Stoxbox. 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.