RailTel shares gain after railway PSU bags Rs 66-crore order
RailTel new order news: The deal involves the supply, installation, testing and commissioning of an integrated tunnel communication system, emergency call arrangements in tunnels and IPIS at stations in the Bhairabi- Sairang New Single line Section of Lumding Division, RailTel said in a regulatory filing.
RailTel share price NSE, RailTel new order news: Shares of the state-run RailTel Corporation of India soared on Friday after the railway PSU clinched an order worth Rs 66.8 crore from Northeast Frontier (NF) Railway Construction. The RailTel stock gained as much as 4.2 per cent to Rs 304 apiece in early deals on NSE. The counter finished at Rs 296.4, up by Rs 4.85 or 1.66 per cent on NSE.
The deal involves the supply, installation, testing and commissioning of an integrated tunnel communication system, emergency call arrangements in tunnels and IPIS at stations in the Bhairabi- Sairang New Single line Section of Lumding Division, RailTel said in a regulatory filing. The order is to be completed within 365 days from the date of the letter of offer and acceptance (LOA), it added. In a separate development, Ranjit Kumar was appointed part-time government nominee director on the board of RailTel this month.
RailTel share price history
RailTel shares has rewarded investors with a return of almost 15 per cent in the past one year, a period in which the Nifty50 has gained 17.5 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 fiber network. The OFC network covers all important towns and cities of the country and several rural areas covering 70 per cent of its population.
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