Key Points of RailTel Order Win- Stock Surge:
- RailTel has secured a work order worth ₹287.57 crore for IT infrastructure.
- The Centre for Development of Advanced Computing has awarded the work order to RailTel Corporation for the supply, installation, integration, testing, and commissioning of IT infrastructure in greenfield data centers.
- The data centers are located in New Delhi and Bengaluru and include training and support.
- RailTel Corporation’s shares rose by nearly 5% on Wednesday following the announcement of the work order.
- The project is expected to be completed within 300 days of the work order date.
- The stock reached an intraday high of ₹110.05 and a low of ₹107.60, with a weekly average delivery volume of 46.36%.
- This contract win is expected to enhance RailTel’s position as a leading provider of telecom infrastructure services in India, and investors are optimistic about the company’s growth potential, leading to an increase in its share price.
Details of RailTel Order:
RailTel Secures ₹287.57 Crore Work Order for IT Infrastructure
RailTel Corporation of India Ltd’s shares rose by nearly 5% on Wednesday, following the company’s announcement that it has secured a work order worth ₹287.57 crore. The Centre for Development of Advanced Computing has awarded the work order to RailTel Corporation for the supply, installation, integration, testing, and commissioning of IT infrastructure in greenfield data centers located in New Delhi and Bengaluru, including training and support.
According to the company’s exchange filing, the project is expected to be completed within 300 days of the work order date. On the technical front, the stock reached an intraday high of ₹110.05 and a low of ₹107.60. The stock’s weekly average delivery volume stands at 46.36%. However, the stock has dropped 27.14% from its 52-week high of ₹148.7, which was recorded on November 28.
This contract win is expected to enhance RailTel’s position as a leading provider of telecom infrastructure services in India. Investors are optimistic about the company’s growth potential, which has led to an increase in its share price.
About RailTel:
RailTel was established on September 26, 2000, with a goal to modernize the current telecom system for train control, operation, and safety. Additionally, RailTel aimed to create a nationwide broadband and multimedia network by laying optical fiber cable using the right of way along railway tracks, generating additional revenues.
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