RailTel Corporation stock extends winning streak for 3rd straight day, gains 8% on ₹352 crore order win
RailTel Corporation of India continued their winning streak for the third consecutive trading session on Monday, surging by 8% to reach 378.70 apiece after the company, in an exchange filing on Sunday, said that it secured an order worth ₹352 crore. This order is from the Municipal Corporation of Greater Mumbai for the supply, installation, testing, commissioning, operations, & maintenance of HMIS for the Health Department of BMC.
Also Read: Paytm upper circuit: Stock gains 5% as Yes Securities upgrades stock to ‘Buy’, raises target price Notably, this marked the third order received by RailTel within a week. The company on Saturday garnered a ₹130 crore work order from the State Project Director (SPD) of the Bihar Education Project Council (Bepc) for the supply of teaching-learning material for Class I to V under a rate contract.
Furthermore, on March 14th, the company secured a significant work order worth ₹113.46 crore from the Odisha Computer Application Centre ("OCAC") to establish IP-MPLS network connectivity in Odisha under OdishaNet Phase 1.0. Another notable order in March was the acquisition of a ₹87.85 crore work order from the State Transport Authority, Odisha, aimed at upgrading the existing command control centre to a unified command control centre and implementing an intelligent enforcement management system (IEMS).
Also Read: L&T share price up 63% in last one year; is it still buy-worthy? Experts weigh in On multiple order wins, the company's shares over the last two trading sessions have gained nearly 14%. The stock ended CY23 with a multi-bagger return of 166%.
It has surged by 283%, currently trading at ₹360 apiece from its issue price of ₹94. RailTel categorised as a "Mini Ratna (Category-I)" Central
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