Railtel shares surge the Investors have responded positively to RailTel’s steady stream of orders this year. As a result, the company’s share value has risen by 31% year-to-date. Impressively, RailTel concluded CY23 with a remarkable 168% gain.
RailTel Shares Surge on Winning ₹79 Crore MHADA Contract
On Wednesday, RailTel Corporation of India shares surged by 10%, reaching ₹449 per share. This increase came after the company secured a ₹79 crore contract from the Maharashtra Housing and Area Development Authority (MHADA). The project involves setting up and managing a cloud-based data centre, along with a disaster recovery site for MHADA.
A Third Contract Win in October
This month, RailTel has already secured three contracts. On October 2, the company won two orders from Bangalore Metro Rail Corporation Ltd. These contracts, worth ₹142.87 crore, include IT Network Infrastructure for metro stations and depots. They also cover upgrading the CCTV system on Reach 1, along with maintenance services.
RailTel’s Strong September Finish
RailTel wrapped up September with five new orders. One major contract, valued at ₹134 crore, came from Adani Connex for an Advanced Smart Metering Infrastructure Project. Additionally, the company received a ₹48.7 crore order from the Health Insurance TPA of India. This project involves developing an integrated claims management system and mobile application, with a completion date set for June 14, 2030.
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