FII bought 56,10,000 shares and Rs 5,100 crore order book: This multibagger railway telecom stock bags new order worth Rs 69 crore!
Shares of the company have gained more than 160 per cent in the last six months.
RailTel, a leading Indian telecom provider, scored big with two recent contracts. The company will supply Rs 39.88 crore worth of educational materials for Bihar schools and install Rs 29.54 crore MPLS VPN for C-DoT, upgrading their network. These diverse wins totalling over Rs 69 crore showcase RailTel's versatility and growth potential in education, technology, and government partnerships.
Railtel Corporation of India Limited reported a strong robust quarter for FY24, with a net sales increase of 24.08 per cent to Rs 467.61 crore, compared to Rs 376.85 crore in the same quarter last year. The operating profit also experienced a significant increase of 18.73 per cent. The net profit for the quarter stood at Rs 38.39 crore, which was Rs 25.89 crore in the previous year's same quarter.
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Railtel Corporation of India Limited (Railtel) is a Miniratna (Category-I) PSU, which owns a pan-India optic fibre 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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