RailTel Corp declines for fifth day; down by over 25% in last three months

7 Mar 2022 , 03:14 PM

The stock has declined 7.25% in five sessions, from its recent closing high of Rs 95.15 recorded on 3 25 February 2022.

In the past three months, the stock has declined 25.70% while the benchmark Sensex has lost 8.38% during the same period.

On the technical front, the stocks RSI (relative strength index) stood at 16.199. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock is currently trading 48.06% below its 52-week high of Rs 169.90 hit on 5 March 2021. It has is currently trading 1.2% higher from its 52-week low of Rs 87.20 hit today (7 March 2022).

The scrip was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 111.02, 117.26 and 126.41, respectively.

RailTel, a Mini Ratna (Category-I) Central Public Sector Enterprise is an information and communications technology (ICT) provider and one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. The Optical Fibre Cable (OFC) network covers important towns & cities of the country and several rural areas. The Government of India held 72.84% stake in the company.

The companys consolidated net profit declined 5.24% to Rs 66.01 crore on a 1.73% rise in sales to Rs 417.69 crore in Q3 FY22 over Q3 FY21.

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