RailTel shares rise 5% as PSU gets Navratna status
RailTel share price today: The multibagger stock has risen 107 per cent in a year and gained 399 per cent in two years.
- Sep 2, 2024,
- Updated Sep 2, 2024 11:20 AM IST
Shares of RailTel Corporation of India surged over 5% on Monday after the Modi government awarded Navratna status to the company. RailTel shares gained 5.05% to Rs 515.60 against the previous close of Rs 490.80 on BSE. Market cap of the firm rose to Rs 16,178 crore. Total 5.34 lakh shares of the firm changed hands amounting to a turnover of Rs 27.17 crore.
The multibagger stock has risen 107 per cent in a year and gained 399 per cent in two years. The stock fell to a 52-week low of Rs 200.30 on October 9, 2023 and rose to a record high of Rs 618 on July 12, 2024.
The stock has a one-year beta of 1.3, indicating high volatility during the period.
In terms of technicals, the relative strength index (RSI) of RailTel stands at 51.8, signaling the stock is neither overbought nor oversold on charts.
RailTel reported 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.
About the company
RailTel Corporation is a Navratna 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.
Shares of RailTel Corporation of India surged over 5% on Monday after the Modi government awarded Navratna status to the company. RailTel shares gained 5.05% to Rs 515.60 against the previous close of Rs 490.80 on BSE. Market cap of the firm rose to Rs 16,178 crore. Total 5.34 lakh shares of the firm changed hands amounting to a turnover of Rs 27.17 crore.
The multibagger stock has risen 107 per cent in a year and gained 399 per cent in two years. The stock fell to a 52-week low of Rs 200.30 on October 9, 2023 and rose to a record high of Rs 618 on July 12, 2024.
The stock has a one-year beta of 1.3, indicating high volatility during the period.
In terms of technicals, the relative strength index (RSI) of RailTel stands at 51.8, signaling the stock is neither overbought nor oversold on charts.
RailTel reported 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.
About the company
RailTel Corporation is a Navratna 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.