Railtel shares surge 3% after bagging Rs 292 crore orders

Railtel Share Price NSE: Shares of Railtel Corporation of India Ltd, NSE: RAILTEL surged around 3 per cent after the company received orders worth Rs 292 crore from the Puducherry government and public sector company NMDC.

At 10:30 AM, Railtel Corporation shares quoted Rs 128, up by 3 per cent on the NSE.

Zee Business panellist and technical analyst Rakesh Bansal said that the chart structure is very strong and that a rally is yet to be seen. He recommended existing shareholders to hold positions.

Railtel Share Price Target 

From trading perspective, Bansal said that Railtel has a strong base at Rs 120 and the target would be Rs 140.

The public sector enterprise under the Ministry of Railways on Wednesday informed that it received the work order from the Department of Revenue and Disaster Management, Government of Puducherry, valued Rs 170.11 crore.

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The contract received involves designing, development, supply, installation, testing & commissioning (SITC), operation & maintenance (O&M) for 5 years of Integrated Command Control Centre and other associated activities for Puducherry Smart City.

The order from NMDC is for the implementation of IT infrastructure for ERP and other future digital initiatives. The total value of the project is Rs 122.63 crore.

The share touched a 52-week high of Rs 148.70 and a 52-week low of Rs 84 on November 28, 2022 and March 31, 2022.

Railtel Share Price History

In the past 6 months, Railtel's shares have yielded more than 30 per cent return to investors while 7 per cent in 1-year. The stock's 52-week range is Rs 148.70 - Rs 148.70. At current levels, the company has a market cap of Rs 4.07 thousand crore.

Railtel Corporation is a Mini Ratna public sector enterprise. It is an information and communications technology provider. It is also one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on the exclusive right of way (ROW) along railway track.

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