RailTel Corporation shares jump 9% on Rs 113 crore order win
RailTel Corporation of India jumped 9% to Rs 369 in Friday's trade on BSE after the firm received a Rs 113.46 crore work order from Odisha Computer Application Centre (OCAC).
The order is for setting up IP-MPLS network connectivity in Odisha under OdishaNet Phase 1.0. The project needs to be executed by September 2025, according to the company's regulatory filing.
RailTel Corporation also recently secured multiple orders on March 4. It received a work order from the State Transport Authority, Odisha, worth Rs 87.85 crore for the upgrade of the existing command control centre to a unified command control centre and the implementation of an intelligent enforcement management system (IEMS) for the State Transport Authority, Odisha.
On February 2, the company was awarded a work order from Prasar Bharati Broadcasting Corporation of India valued at Rs 139 crore for design, development, implementation, operations, and maintenance.
At 11.43 am, the scrip was trading 1% higher at Rs 342.3 on BSE. Meanwhile, the stock delivered multibagger returns as it has surged 220% in the last year and over 280% in the past two years. However, it has plunged over 23% in the past two weeks.
As per Trendlyne data, the average target price of the stock is Rs 203, which shows a downside of 41% from the current market prices. The consensus recommendation from 2 analysts for the stock is a 'Strong Sell'.
In terms of technicals, the relative strength index (RSI) of the stock stands at 37.7, signaling it's neither trading in the overbought
