RailTel Corporation Share Price: Shares of Indian Railways’ public-sector undertaking (PSU) stock RailTel Corporation of India were locked at over 16 per cent upper circuit to hit its fresh 52-week high mark of ₹348 apiece on the BSE, after securing back-to-back work orders this week.
On Wednesday, RailTel Corporation informed the stock exchanges that it had received the work order from Bihar Education Project Council and the following day, the PSU received an order from South Central Railways.
RailTel Corp receives back-to-back orders
RailTel Corporation informed the stock exchanges on December 27 that it had received the work order from Bihar Education Project Council for the supply of teaching learning material for class I to III under rate contract amounting to ₹76.19 crore (including GST). The time period for the execution of the order is three months.
On Thursday, RailTel received another work order amounting to ₹120.45 crore (including GST) from South Central Railway for comprehensive signalling and telecommunication works for provision of automatic block signalling system in Yermaras-Nalwar section of the Guntakal division in South Central Railway. The time period for the execution of the order is 720 days.
On December 23, RailTel was tasked with implementing an integrated tunnel communication system along the new single line Bhairabi-Sairang section of the Lumding division of the Northeast Frontier Railway. The PSU will also undertake emergency call arrangements in tunnels and integrated passenger information systems at railway stations along the section.
The total project will cost ₹66.83 crore and will cover 32 tunnels with a total length of about 12.6 km. The Bhairabi-Sairang line in Mizoram is one of the toughest sections where problems of road approach, non-availability of materials, higher cost of transportation and tough terrain make it a very challenging work to execute.
RailTel Corporation Share Price Today
On Friday, shares of RailTel Corporation opened at ₹298 and surged 16.77 per cent to hit its new 52-week high mark of ₹348 against a previous close of ₹293.65 apiece on the BSE. Shares settled 15.10 per cent higher at ₹338 apiece on the BSE.
RailTel shares have given investors with a return of almost 150 per cent in the past one year. India’s blue-chip Nifty 50 and BSE Sensex rose around 20 per cent in 2023, their second-best year since 2017, and were among the top-performing stock indexes globally. The rally was driven by sustained domestic mutual fund inflows, return of foreign buying, better-than-expected economic growth, and robust corporate earnings.