RailTel Continues Winning Streak with ₹352 Crore Order

19 Mar 2024 , 01:53 PM

RailTel Corporation of India’s shares extended their upward trend following the announcement of a significant order valued at ₹352 Crore. At the time of writing, the stock was trading at ₹347.70 which is a 1.75% dip than the previous close.

The order, secured from the Municipal Corporation of Greater Mumbai, entails the supply, installation, testing, commissioning, operation, and maintenance of HMIS for the Health Department of BMC.

This marked RailTel’s third order within a week, including a ₹130 Crore work order from the Bihar Education Project Council (Bepc) for the supply of teaching-learning material and a ₹113.46 Crore order from the Odisha Computer Application Centre (OCAC) for establishing IP-MPLS network connectivity in Odisha.

In addition, RailTel received a ₹87.85 Crore work order from the State Transport Authority, Odisha, aimed at upgrading the existing command control centre and implementing an intelligent enforcement management system (IEMS).

With multiple order wins, RailTel’s shares surged nearly 14% over the last two trading sessions, culminating in a multi-bagger return of 166% in CY23 and a 283% increase from its issue price of ₹94.

RailTel, classified as a “Mini Ratna (Category-I)” Central Public Sector Enterprise, is a leading provider of information and communication technology (ICT) services with a vast optic fibre network covering urban and rural areas.

Established on September 26, 2000, RailTel’s primary objective is to modernize telecom infrastructure, enhance train control systems, and develop a nationwide broadband network by strategically laying optical fibre cables along railway tracks.

Currently, RailTel’s optic fibre network spans over 61,000+ route kilometres, connecting 6,108+ railway stations across India, along with urban coverage exceeding 21,000+ kilometres.

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