RailTel Share Price Surges After Bagging Orders Worth Crores!
ππ In recent news, RailTel Corporation of India Limited received an order worth 113.46 crores from the Odisha Computer Application Center. As a result, the company’s shares have been making headlines. The news of the order led to a surge in buying activity for RailTel shares.
Upgrade Orders Boost RailTel Share Price
π€π Starting off March 2024 on a high note, RailTel Corporation of India Limited announced that the Odisha State Transport Authority had ordered the upgrade of the existing Command Control Center to a Unified Command Control Center and the construction of an Intelligent Enforcement Management System for the state transport authority. The company’s shares closed at 352.85 rupees on Friday, March 15, 2024, with a 4.07% increase. As of Monday, March 18, 2024, the shares were trading at 354 rupees, up by 0.83%.
RailTel Recognized for Broadcasting Project
π‘π In February 2024, RailTel Corporation of India Limited was honored by Prasar Bharati Broadcasting Corporation of India for its work related to design, development, implementation, operation, and maintenance, with an award of 139.73 crores. Under this order, the company has been entrusted with the responsibility of designing, developing, implementing, operating, and maintaining the OTT platform as a master system integrator.
Defense Ministry Awards Contracts to RailTel
π‘π° RailTel Corporation of India was awarded a three-year contract by the Ministry of Defense to lay and maintain OFC cables. The total value of the contract is 18.21 crores. Additionally, the company has been awarded a project worth 124.90 crores by the Western Railway Department.
About RailTel Corporation of India Limited
ππΆ RailTel Corporation of India Limited primarily operates in the business of providing telecommunications infrastructure. The company provides broadband telecommunications and multimedia network services in India. RailTel shares witnessed a 20% drop to 308.40 rupees in Wednesday’s trading session. However, the company’s shares closed at 339.05 rupees with a 10% increase in Thursday’s trading session. Over the past six months, the company’s shares have delivered a 50% return to investors. In the last year, RailTel shares have provided a 216% return to its investors.
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