DII bought 56,10,000 shares and Rs 5,100 crore order book: This multibagger railway telecom stock bags new order worth Rs 82,41,95,412!
Shares of the company have gained more than 170 per cent in the last six months.
RailTel Corporation has reached new heights with a massive Rs 82 crore work order from South Central Railway. This domestic contract involves comprehensive ground infrastructure works for deploying 4G LTE-R technology across 523 kilometers of Secunderabad Division.
This significant win not only strengthens RailTel's position in the railway telecom sector but also fuels further development of India's communication infrastructure. The project, scheduled for completion by September 2025, will significantly enhance railway communication and network coverage.
This impressive deal isn't the only good news for RailTel. The stock soared, hitting record highs and marking a 52-week peak. This surge highlights investor confidence in RailTel's potential and future growth trajectory.
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Overall, this major order and subsequent stock performance paint a bright picture for RailTel, showcasing its commitment to innovative solutions and solidifying its position as a key player in India's telecom landscape.
Railtel Corporation of India Limited (Railtel) is a Miniratna (Category-I) PSU, which owns a pan-India optic fiber network providing broadband and multimedia services, along with modernization and maintenance of the communications network of the Indian Railways. The company now offers services to other private and government clients as well. It has two main lines of business: telecom and projects.
The company has an order book of Rs 5,100 crore. The stock has also delivered multibagger returns of about 180 per cent in the last one year. In September 2023, Quant Mutual Fund bought 56,10,000 shares of the company. FIIs and DIIs increased their stake in the company in September 2023.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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