Railtel Corporation of India gains 3% after securing a South Central Railway order

29 Dec 2023 , 10:24 AM

In early trading on December 29, shares of Railtel Corporation of India surged by 3% after obtaining an order from South Central Railway worth Rs 120.45 crore. The NSE was seeing activity for the Railtel Corporation stock at Rs 300.55 at 9:15 a.m.

South Central Railway has awarded a substantial work order to Railtel Corporation of India, valued at Rs 120.45 crore. The directive concerns complete signalling and telecommunication works for the installation of an automated block signalling system in South Central Railway’s Guntakal division’s Yermaras-Nalwar section.

The project’s scope encompasses the improvement and modernization of the telecommunication and signalling infrastructure, with a particular focus on the deployment of an automated block signalling system. This system will help improve coordination within the section and is essential to the safe and effective operation of trains in the designated railway section.

Railtel Corporation maintains its commitment to developing railway safety and technology with this significant order. In addition, as stated in the BSE filing, the order must be completed within 720 days of the date of receipt of the work order, which is December 28, 2023.

Over the past six months, the shares of Railtel Corporation of India has returned 124.47 percent. During the same period, the benchmark Nifty50 index has returned 13.50 percent.

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