Railtel Corporation of India
There was a tremendous rise in the shares of RailTel Corporation of India on Thursday. The stock rose by about 5% to reach an intraday high of Rs 354 on BSE. Due to the rally for the second consecutive day, the stock has jumped by about 25% in just two days.
Why did it happen so fast?
This rise has come after the company got a new contract worth Rs 100 crore. This project involves creating an IT system for monitoring minor minerals and maintaining it for 5 years. This will improve monitoring and tracking in this sector.
Received big orders earlier also
In the beginning of this week itself, the company had received several orders worth about Rs 608 crore, which further increased the confidence of investors.
Big projects received from RVNL
The company said that it has received orders for two big infrastructure projects from Rail Vikas Nigam Limited (RVNL). The first order is worth about Rs 309.27 crore, which includes installation of communication system from Tunnel T-1 to T-7 (about 42.7 km).
The second order is worth about Rs 255.27 crore, in which the system will be installed at 4 stations from T-8 to T-11 (about 36 km). These projects will include facilities like CCTV, public announcement system, emergency call. Both projects are to be completed by 12 April 2028.
Got work from UP Police also
Apart from this, the company has also received work worth about Rs 43.96 crore from Uttar Pradesh Police Recruitment and Promotion Board, in which it will have to provide security related services during recruitment examinations.
cleaning of company
The company said that all these contracts are not linked to any related party and the promoter group has no interest in it.
share status
Although the stock is down about 7% so far this year, it has gained about 30% in the last one month.
