"RailTel Corporation Surges 27% in 6 Days Following Acquisition of Orders Worth Rs. 263 Crore"

RailTel Corporation of India witnessed a remarkable surge of 27% in its stock value over the past six trading days, reaching a new high of Rs 368.85 on the Bombay Stock Exchange (BSE). This impressive rally was driven by the telecom services provider securing orders totaling Rs 263 crore. Over the last two months, RailTel's stock has soared by 68%, and in the last six months, it has experienced an extraordinary climb of 182%.

As of 10:09 AM, RailTel's shares were trading 8% higher at Rs 366.10, outperforming the S&P BSE Sensex, which recorded a 0.16% decline during the same period. The stock garnered significant attention with a substantial trading volume, witnessing the exchange of 15.63 million equity shares, representing nearly 5% of the total equity of the company, on both the NSE and BSE within the first hour of trade.

The surge in RailTel's stock can be attributed to recent orders, with the most notable being a Rs 120.45 crore work order from South Central Railway for comprehensive signaling and telecommunication works. The company aims to provide an automatic block signaling system in the Yermaras-Nalwar section of Guntakal division, and the project is scheduled to be executed within 720 days.

On December 27, 2023, RailTel secured another significant order from Bihar Education Project Council, amounting to Rs 76.19 crore, for the supply of teaching learning material for Class I to III under a rate contract. Additionally, on December 21, the company received a work order from N F Railway Construction for the supply, installation, testing & commissioning of an integrated tunnel communication system, emergency call arrangements in Tunnels & IPIS at stations in Bhairabi-Sairang new single line Section of Lumding Division, amounting to Rs 66.83 crore.

RailTel Corporation is a Mini Ratna (Category-I) Central Public Sector Enterprise, wholly-owned by the Government of India. It operates as an information and communications technology (ICT) infrastructure provider, specializing in telecom network services, telecom infrastructure services, managed data center and hosting services, and projects (system integration services). The company employs cutting-edge technology, including high dense wavelength division multiplexing (DWDM) and multi-protocol label switching (MPLS) network, to deliver its diverse portfolio of services.

BS