RailTel shares hit all-time high-Heres whats keeping investors hooked
RailTel new order: Shares of the state-run RailTel Corporation of India soared higher following three back-to-back sessions of losses after the railway PSU clinched an order worth Rs 120.45 crore from South Central Railway.
RailTel share price NSE, RailTel news, RailTel new order: Shares of the state-run RailTel Corporation of India soared higher following three back-to-back sessions of losses after the railway PSU clinched an order worth Rs 120.45 crore from South Central Railway for comprehensive signalling and telecommunication works for the provision of an automatic block signalling system in the Yermaras-Nalwar section of the Guntakal division of South Central Railway, the company informed exchanges in its regulatory filing dated December 28 post-market hours.
RailTel shares gained by as much as 18.58 per cent to clock its all-time high of Rs 348 apiece, surpassing an earlier peak of Rs 320.85 touched on December 19 on NSE. The counter ended at Rs 336.5, up by 14.67 per cent on NSE.
In another development, RailTel Corporation received the work order from the Bihar Education Project Council for the supply of teaching and learning material for classes I to III under a rate contract amounting to Rs 76.19 crore (including GST).
RailTel share price history
RailTel shares have rewarded investors with a return of almost 150 per cent in the past one year, a period in which the Nifty50 has gained 20 per cent.
What does RailTel do?
RailTel Corporation is a ‘Miniratna’ category I PSU and among the largest neutral telecom infrastructure providers in the country, owning a pan-India optical fibre network. The OFC network covers all important towns and cities in the country and several rural areas, covering 70 per cent of its population.
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