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RailTel Corporation share rises 9% on winning Rs 153-crore order

Share of RailTel Corp gained up to 9.15% to Rs 142.50 against previous close of Rs 130.55 on BSE. Later, the share closed 7% higher at Rs 139.70

twitter-logoBusinessToday.In | March 22, 2021 | Updated 16:41 IST
RailTel Corporation share rises 9% on winning Rs 153-crore order
The small cap share stands higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.

RailTel Corp share rose over 9% today after PSU received a work order worth Rs 153.15 crore from Central Coalfields Limited. Share of RailTel Corp gained up to 9.15% to Rs 142.50 against previous close of Rs 130.55 on BSE. Later, the share closed 7% higher at Rs 139.70.

The stock has gained after six days of consecutive fall. The small cap share stands higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.

Top losers today: 5 shares fall up to 5%; IndusInd Bank, Power Grid, ICICI, HDFC, Axis Bank

Market cap of the firm rose to Rs 4,485 crore. On Feb 26, RailTel Corporation share made a tepid debut market after its stock listed at a premium of 16% to the issue price today.

The stock of state-owned telecom infrastructure provider listed at Rs 109 per share against the IPO issue price of Rs 94 on NSE. The firm raised about Rs 819 crore through an initial public offering. The initial public offering (IPO) was open for subscription from February 16-18 and was subscribed 42.39 times.  

".... has received the work order amounting to Rs 153.15 crore (Including GST) from M/s Central Coalfields Limited, for establishment of MPLS-VPN Network of higher Bandwidth on rental basis for O5 years," company said in its release.

Incorporated in 2000, the Information and Communication Technology (ICT) infrastructure provider company has covered an optic fibre network over 55,000 Km and 5677 railway stations as on 30 June 2020 and has data centres in Haryana, Gurugram, Secunderabad, and Telangana.

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