Multibagger stock: RailTel shares jump 2% on bagging order. Key details

Shares of RailTel Corporation of India Ltd, a ‘Mini Ratna (Category-I)’ PSU,  climbed 2 per cent in Monday's sessionn after the state-run firm said it has received the work order from State Transport Authority.  The order is for  upgradation of existing Command Control Centre to Unified Command Control Centre & Implementation of Intelligent Enforcement Management System (IEMS) for State Transport Authority, Odisha.

The orders will be executed within 365 days from the date of LOA, RailTel said in a brief BSE filing. Following the development, the stock rose 2 per cent to hit a high of Rs 469 on BSE.

Shares of RailTel have climbed 100 per cent in the past six months and are up a solid 310.06 per cent in the last one year. In February, the PSU announced receiving of the work order from Prasar Bharati Broadcasting Corporation Of India for Design, Development, Implementation, Operations and Maintenance amounting to Rs 139.73 crore. The order was for the selection of Master System Integrator for Design, Development, Implementation, Operations and Maintenance of OTT platform.

Also in February, RailTel said it received work order from Ministry Of Defence for Laying of OFC cable and maintenance for a period of three Year amounting to Rs 18.21 crore. In addition to that, RailTel bagged a work order from Western Railways amounting to Rs 124.90 crore.

Railtel reported 94.49 per cent YoY rise in net profit at Rs 62.14 crore for the December quater compared with Rs 31.95 crore in the same quarter last year. Total income for the quarter rose 46.01 per cent at Rs 674.81 crore for Q3FY24 compared with Rs 462.17 crore in the year-ago quarter..

RailTel Corporation 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 provides broadband telecom and multimedia network across the country.