RailTel shares in focus as firm announces final dividend for FY 2022-23
RailTel share price today: RailTel Corp slipped 1.88 per cent to Rs 130.40 against the previous close of Rs 132.90 on BSE. Market cap of the firm fell to Rs 4233 crore.
- Jul 10, 2023,
- Updated Jul 10, 2023 11:31 AM IST
Shares of RailTel Corporation of India Ltd fell nearly 2% in early trade today despite the firm announcing a final dividend at the rate of 10.5 percent of paid-up share capital (Rs 1.05/- per share) for the financial year 2022-23. The final dividend is in addition to interim dividend of Rs 1.50/- per share already paid by the company for the financial year 2022-23.
RailTel Corp slipped 1.88 per cent to Rs 130.40 against the previous close of Rs 132.90 on BSE. Market cap of the firm fell to Rs 4233 crore. Total 1.30 lakh shares of the firm changed hands amounting to a turnover of Rs 1.70 crore. The stock has gained 40.55 per cent in a year and risen 3.46 per cent this year. The stock hit a 52-week high of Rs 148.70 on November 28, 2022 and fell to a 52-week low of Rs 93 on July 11, 2022.
In terms of technicals, the relative strength index (RSI) of RailTel stands at 60.5, signaling neither the stock is overbought nor oversold. The stock has a one-year beta of 0.9, indicating low volatility during the period. RailTel stock is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
On Friday last week, the telecom infrastructure provider said it received a work order from National Informatics Centre Services (NICSI) for Onsite SOC and NOC with high availability solution amounting to Rs 39.37 crore.
“This is to inform that RailTel Corporation of India Ltd. (“the Company”) has received the work order from National Informatics Centre Services Incorporated (“NICSI”) for Onsite SOC and NOC with high availability solution with 5 years support installation and training amounting to Rs. 39.37 Crore (including taxes),” said RailTel
Meanwhile, net profit climbed 40% to Rs 76.04 crore in the March 2023 quarter against Rs 54.31 crore in the corresponding quarter of the previous fiscal. Sales rose 51.15% to Rs 703.63 crore in Q4 from Rs 465.53 crore a year earlier.
Sales zoomed 26.80% to Rs 1963.51 crore in the last fiscal against net profit of Rs 1548 crore in the previous fiscal. However, profit fell 9.51% to Rs 189.08 crore in FY23 against Rs 208.95 crore in the previous fiscal.
RailTel Corporation is a Mini Ratna (Category-I) PSU and is one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive right of way (ROW) along railway track. The company's segments include telecom services and project work services.
Also read: Tata Motors shares scale fresh 52-week high, stock up 60% in 2023 so far; more steam left?
Also read: Hindustan Zinc shares halt 7-day winning run, slip 5% today after dividend announcement
Also read: Hot stocks on July 10, 2023: RailTel, IIFL Finance, Tata Motors, Suzlon Energy and more
Shares of RailTel Corporation of India Ltd fell nearly 2% in early trade today despite the firm announcing a final dividend at the rate of 10.5 percent of paid-up share capital (Rs 1.05/- per share) for the financial year 2022-23. The final dividend is in addition to interim dividend of Rs 1.50/- per share already paid by the company for the financial year 2022-23.
RailTel Corp slipped 1.88 per cent to Rs 130.40 against the previous close of Rs 132.90 on BSE. Market cap of the firm fell to Rs 4233 crore. Total 1.30 lakh shares of the firm changed hands amounting to a turnover of Rs 1.70 crore. The stock has gained 40.55 per cent in a year and risen 3.46 per cent this year. The stock hit a 52-week high of Rs 148.70 on November 28, 2022 and fell to a 52-week low of Rs 93 on July 11, 2022.
In terms of technicals, the relative strength index (RSI) of RailTel stands at 60.5, signaling neither the stock is overbought nor oversold. The stock has a one-year beta of 0.9, indicating low volatility during the period. RailTel stock is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
On Friday last week, the telecom infrastructure provider said it received a work order from National Informatics Centre Services (NICSI) for Onsite SOC and NOC with high availability solution amounting to Rs 39.37 crore.
“This is to inform that RailTel Corporation of India Ltd. (“the Company”) has received the work order from National Informatics Centre Services Incorporated (“NICSI”) for Onsite SOC and NOC with high availability solution with 5 years support installation and training amounting to Rs. 39.37 Crore (including taxes),” said RailTel
Meanwhile, net profit climbed 40% to Rs 76.04 crore in the March 2023 quarter against Rs 54.31 crore in the corresponding quarter of the previous fiscal. Sales rose 51.15% to Rs 703.63 crore in Q4 from Rs 465.53 crore a year earlier.
Sales zoomed 26.80% to Rs 1963.51 crore in the last fiscal against net profit of Rs 1548 crore in the previous fiscal. However, profit fell 9.51% to Rs 189.08 crore in FY23 against Rs 208.95 crore in the previous fiscal.
RailTel Corporation is a Mini Ratna (Category-I) PSU and is one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive right of way (ROW) along railway track. The company's segments include telecom services and project work services.
Also read: Tata Motors shares scale fresh 52-week high, stock up 60% in 2023 so far; more steam left?
Also read: Hindustan Zinc shares halt 7-day winning run, slip 5% today after dividend announcement
Also read: Hot stocks on July 10, 2023: RailTel, IIFL Finance, Tata Motors, Suzlon Energy and more