RailTel Corporation shares slip 4% today after hitting one-year high; see tech charts
RailTel share price: The stock slipped 4.43 per cent to close at Rs 232.05, pausing its five-day sharp upward move. The stock has turned into a multibagger in a year by rallying 129.53 per cent. Turnover on the counter stood at Rs 53.62 crore, commanding a market capitalisation (m-cap) of Rs 7,447.38 crore.
- Sep 4, 2023,
- Updated Sep 4, 2023 7:28 PM IST
Shares of RailTel Corporation of India Ltd settled lower after scaling their fresh one-year high level of Rs 251.20 in a highly volatile trading session. The stock slipped 4.43 per cent to close at Rs 232.05, pausing its five-day sharp upward move. The stock has turned into a multibagger in a year by rallying 129.53 per cent. Turnover on the counter stood at Rs 53.62 crore, commanding a market capitalisation (m-cap) of Rs 7,447.38 crore.
Sanjai Kumar, chairman and managing director at RailTel, said, "Over the past five years, we have consistently achieved growth in total income and in the fiscal year 2023, our income has surpassed Rs 2,000 crore, reaching a new pinnacle. Actually, the company has achieved a record-breaking total income of Rs 2,002 crore, marking a remarkable 27 per cent growth compared to the previous financial year's income of Rs 1,578 crore."
During the fiscal year 2022-23, our operating revenue experienced a significant surge of 27 per cent, reaching a turnover of Rs 1,964 crore, as opposed to Rs 1,548 crore in the preceding financial year, he added.
"We are working on the project of installation of an IP-based Video Surveillance System (VSS) at more than 5,000 railway stations and the work at 308 stations has been successfully completed. Railtel is implementing the project of Tunnel Radio Communication systems for various railway sections," Kumar also said.
RailTel is actively exploring opportunities in related domains such as the modern train communication system and Kavach, he further mentioned.
On technical setup, the counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-, 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 75.52. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 37.28 against a price-to-book (P/B) value of 4.55.
The scrip has an analyst target price of Rs 143, Trendlyne data showed, suggesting a potential downside of 38 per cent. It has a one-year beta of 0.92, indicating low volatility on the counter.
RailTel Corp, a Mini Ratna (Category-1) PSU is an information and communications technology (ICT) provider and one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network. As of June 30, 2023, the government holds a 72.84 per cent stake in the company.
Meanwhile, Indian equity benchmarks settled higher today. The 30-share BSE Sensex pack rose 241 points or 0.37 per cent to close at 65,628, while the broader NSE Nifty index moved 94 points or 0.48 per cent to end at 19,529.
(Disclaimer: Recommendations provided in this article and/ or any reports attached or relied on herein are authored by an external party. The views expressed herein are those of the respective authors/ entities, and do not represent the views of Business Today (BT). BT does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. BT further urges you to consult your financial adviser and seek independent advice regarding the contents herein, including stock investments, mutual funds, general market risks etc.)
Shares of RailTel Corporation of India Ltd settled lower after scaling their fresh one-year high level of Rs 251.20 in a highly volatile trading session. The stock slipped 4.43 per cent to close at Rs 232.05, pausing its five-day sharp upward move. The stock has turned into a multibagger in a year by rallying 129.53 per cent. Turnover on the counter stood at Rs 53.62 crore, commanding a market capitalisation (m-cap) of Rs 7,447.38 crore.
Sanjai Kumar, chairman and managing director at RailTel, said, "Over the past five years, we have consistently achieved growth in total income and in the fiscal year 2023, our income has surpassed Rs 2,000 crore, reaching a new pinnacle. Actually, the company has achieved a record-breaking total income of Rs 2,002 crore, marking a remarkable 27 per cent growth compared to the previous financial year's income of Rs 1,578 crore."
During the fiscal year 2022-23, our operating revenue experienced a significant surge of 27 per cent, reaching a turnover of Rs 1,964 crore, as opposed to Rs 1,548 crore in the preceding financial year, he added.
"We are working on the project of installation of an IP-based Video Surveillance System (VSS) at more than 5,000 railway stations and the work at 308 stations has been successfully completed. Railtel is implementing the project of Tunnel Radio Communication systems for various railway sections," Kumar also said.
RailTel is actively exploring opportunities in related domains such as the modern train communication system and Kavach, he further mentioned.
On technical setup, the counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-, 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 75.52. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 37.28 against a price-to-book (P/B) value of 4.55.
The scrip has an analyst target price of Rs 143, Trendlyne data showed, suggesting a potential downside of 38 per cent. It has a one-year beta of 0.92, indicating low volatility on the counter.
RailTel Corp, a Mini Ratna (Category-1) PSU is an information and communications technology (ICT) provider and one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network. As of June 30, 2023, the government holds a 72.84 per cent stake in the company.
Meanwhile, Indian equity benchmarks settled higher today. The 30-share BSE Sensex pack rose 241 points or 0.37 per cent to close at 65,628, while the broader NSE Nifty index moved 94 points or 0.48 per cent to end at 19,529.
(Disclaimer: Recommendations provided in this article and/ or any reports attached or relied on herein are authored by an external party. The views expressed herein are those of the respective authors/ entities, and do not represent the views of Business Today (BT). BT does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. BT further urges you to consult your financial adviser and seek independent advice regarding the contents herein, including stock investments, mutual funds, general market risks etc.)