RailTel Corp shares continue to rise on Rs 352 crore order win. Details here

Shares of RailTel Corporation of India Ltd extended their up move for the third consecutive session in Monday's trade. The stock jumped 7.78 per cent to hit a day high of Rs 378. The scrip, however, erased a major chunk of its gains and was last seen trading 1.23 per cent up at Rs 355.

The PSU, in a BSE filing, said, it has received the work order from Municipal Corporation of Greater Mumbai for supply, installation, testing, commissioning, operations and maintenance of HMIS for Health Department of BMC amounting to Rs 3,51,95,23,654.

RailTel's counter was trading lower than the 5-day, 10-, 20-, 30-day and 50-day simple moving averages (SMAs) but higher than the 100-day, 150-day and 200-day SMAs. The stock's 14-day relative strength index (RSI) came at 41.47. 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 46.26 against a price-to-book (P/B) value of 6.53. Earnings per share (EPS) stood at 7.58 with a return on equity of 14.12.

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 with a pan-India optic fiber network. As of December 2023, the government holds a 72.84 per cent stake in the company.