RailTel share price climbs 4% on Maharashtra municipal orders; key details

Shares of RailTel Corporation of India Ltd rose 4 per cent in Friday’s trade after the state-run telecom infrastructure provider announced securing two work orders worth over Rs 103 crore from municipal corporations in Maharashtra.

In separate filings with the stock exchanges, the company said it received a Rs 70.95 crore order from Nashik Municipal Smart City Development Corporation Ltd and another worth Rs 32.51 crore from Panvel Municipal Corporation.

The Nashik project covers “supply, laying, installation, testing and commissioning of Nashik & Trimbakeshwar City Network Backbone along with providing operations and maintenance services,” RailTel noted. The order is scheduled for completion by December 31, 2026.

Meanwhile, the Panvel order involves the “provision of connectivity (SDWAN-based Internet Lease Line/MPLS Line) at locations for the Panvel Safe City Project” and will run until March 19, 2031, the company added.

Following the announcement, RailTel shares climbed as much as 4.3 per cent to hit a day’s high of Rs 379 on the BSE, compared with the previous close of Rs 363.20. At 9:42 am, the stock was up 3.26 per cent at Rs 375.05, valuing the company at Rs 12,036 crore. The counter is still trading nearly 40 per cent above its 52-week low of Rs 265.30.

RailTel clarified that both contracts were awarded by domestic entities, are not related-party transactions, and that the promoter group holds no interest in the awarding authorities.

On the technical charts, RailTel shares are placed above their 5-, 10-, 20-, 30-, 150- and 200-day simple moving averages (SMAs) but below 50- and 100-day SMAs. With a one-year beta of 1.9, the counter has exhibited high volatility over the past year.