Railtel Corporation stock in focus amid securing contract worth Rs 155 crore

The shares of the PSU Company RailTel Corporation of India have witnessed a surge after the company won an order worth Rs 155 crore. RailTel shares gained 1.71% to Rs 461.30 on Thursday against the previous close of Rs 453.55 on BSE.

The market cap of the firm rose to Rs 14,804 crore. Total 1.54 lakh shares of the firm changed hands amounting to a turnover of Rs 7.07 crore.

On September 17, the company received the work order from Health Insurance TPA of India Ltd. for Service amounting to Rs. 48,70,00,000 (Excluding Tax) for the Integrated Claims Management Solution Portal and Mobile Application.

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The company was granted Navratna status on August 30 this year.  After the key development, it has won four orders including the latest one. 

On September 13, has received the work order from Northern Railways for a Railway Project amounting to Rs. 19,69,96,886 for the Provision of Double Distant in connection with DFC Feeder routes (AMG-UTRZBDSOP, ZBD-JNU(EX), ABP(EX)-TD and UCRPFM) over Lucknow Division. 

On September 5, RailTel said it had received the work order from Northern Railways for the Railway Telecom Project amounting to Rs 10.92 crore. 

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RailTel recorded a 25.2% year-on-year (YoY) rise in net profit at Rs 48.7 crore for the first quarter ended June 30, 2024, against a net profit of Rs 38.9 crore.

Revenue from operations climbed 19.4% to Rs 558.1 crore against Rs 467.6 crore in the corresponding period of the preceding fiscal. EBITDA rose 14.8% to Rs 103.4 crore in the first quarter of this fiscal against Rs 90.1 crore in the year-ago period.

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