RailTel shares hit record high on Rs 53-crore work order; check details

Shares of RailTel Corporation of India Ltd hit a record high today after the railway firm said it has received a work order from Gujarat Informatics Limited for supply, installation and operations and maintenance of state wide surveillance and ITMS project across Gujarat.  

RailTel Corp shares rose to a high of Rs 296.30 on BSE today against the previous close of Rs 292.50 on BSE. Market cap of the firm rose to Rs 9355.35 crore. Total 4.32 lakh shares of the firm changed hands amounting to a turnover of Rs 12.61 crore.   

The multibagger stock has risen 129 per cent this year. It hit a 52-week low of Rs 96.20 on March 28, 2023.  

In terms of technicals, the relative strength index (RSI) of RailTel stands at 75.5, signaling neither the stock is overbought. The stock has a one-year beta of 0.1, indicating very low volatility during the period. RailTel stock stands higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.       

The estimated revenue for five years is Rs 52.87 crore. The order will be carried out under flagship program called “Video Integration and State Wide Advance Security-VISWAS”- Phase-II, said RailTel.  

About the company  

RailTel Corporation is a Mini Ratna (Category-I) 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.  

 

Also read: Hot stocks on November 24: Suzlon Energy, YES Bank, Elecon Engineering, Paytm and more        

Also read: Stock recommendations for November 24, 2023: CDSL, Bajaj Auto and Star Health

Also read: PSU general insurance companies jump up to 19% today; stocks hit new 52-week high