Railtel Shares Surge 3% as Company Bags Rs 66.83 Crore Order from NF Railway Construction

22 Dec 2023 , 03:18 PM

Railtel shares experienced a 3 % rally on December 22 following the receipt of a Rs 66.83-crore work order from NF Railway Construction.

The work order pertains to the supply, installation, testing, and commissioning of an integrated tunnel communication system, emergency call arrangements in tunnels, and Integrated Passenger Information System (IPIS) at stations in the Bhairabi – Sairang New Single line Section of the Lumding Division.

Railtel, a central public sector enterprise under the Ministry of Railways, focuses on providing telecom infrastructure and information and communication technology (ICT) services. The company operates an extensive optic fibre network throughout India.

The stipulated timeframe for executing the order is one year from the date of the Letter of Acceptance (LOA), as stated in Railtel’s regulatory filing.

Recently, Railtel secured a work order from Gujarat Informatics for state-wide surveillance and ITMS projects across Gujarat. Additionally, REC Ltd committed Rs 30,000 crore in funding to Railtel to support various projects over the next five years, encompassing telecom, IT services, railway signaling systems, and the KAVACH train collision prevention system.

Year-to-date, Railtel’s stock has surged over 135 %, doubling investors’ money. In contrast, the benchmark Nifty has experienced a 15 % rise during the same period.

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