Miniratna shares defy weak market sentiment: Secures order worth Rs 39 crore from NICSI!
The President of India holds a significant ownership stake in the company, amounting to 72.84 per cent.
On Friday, the shares of RailTel Corporation of India Limited surged 1.61 per cent, the scrip witnessed massive spurt in volume by more than 2.10 times. The Sensex concluded the trading session with a decline of 0.77 per cent, while the Nifty also closed lower by 0.85 per cent.
The National Informatics Centre Services Incorporated (NICSI) has awarded an order for On-Site SOC and NOC with a high availability solution, including 5 years of support, installation, and training. The order was given to a domestic entity, and the contract is to be executed over a period of 5 years from the service start date. The broad consideration for this contract amounts to Rs 39.37 crore for the duration of five years. The order entails the implementation of robust security and networking infrastructure, ensuring reliable and secure operations for NICSI.
RailTel, incorporated in 2000, was established with the aim of developing a comprehensive nationwide broadband and VPN services network, along with telecom and multimedia infrastructure, to enhance the train control operation and safety system of the Indian Railways. As a "Miniratna" Public Sector Enterprise (PSE) of the Government of India, RailTel has successfully built a vast network that spans approximately 6,000 stations across the country, providing connectivity to major commercial centers and facilitating modern communication services.
The company has consistently maintained a robust dividend payout ratio of 37.3 per cent, highlighting its commitment to providing shareholders with a healthy return on their investments through regular dividend distributions.
The President of India holds a significant ownership stake in the company, amounting to 72.84 per cent. This substantial ownership reflects the government's involvement and interest in the company's operations and strategic direction.
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The stock has seen strong purchasing interest as it has returned more than 42 per cent in the last year. Investor to keep close eye on this PSU stock.