Rs 4,500+ crore order book: This multibagger railways telecom stock reports stellar quarterly results; President of India’s portfolio gains Rs 146.12 crore in just one day!
The stock gave multibagger returns of over 130 per cent from its 52-week low of Rs 96 per share.
On Friday, shares of RailTel Corporation of India Ltd gained 5.26 per cent to an intraday high of Rs 229.20 per share. At the closing bell, shares of the company were trading at Rs 224 per share, up 2.87 per cent. The stock gave multibagger returns of over 130 per cent from its 52-week low of Rs 96 per share.
The company announcing stellar Quarterly Results (Q1FY24), receiving multiple orders, healthy order book and declared interim dividend. Here are the details:
Quarterly Results: The net sales increased by 24.08 per cent to Rs 467.18 crore, operating profit increased by 18.73 per cent to Rs 89.27 crore and net profit increased by 48.51 per cent to Rs 38.39 crore in Q2FY24 compared to Q2FY23.
Orders Received: The company received one order from Jammu Smart City Limited for design, supply, installation, testing, commissioning and operations and maintenance of data centre and disaster recovery centre for Integrated Command and Control Centre (ICCC). The order is worth Rs 67,94,99,999.98 and will be completed in 9 months.
Order Book: As of June 30, 2023, the company has a healthy order book of over Rs 4,500 crore.
Dividend: The company declared a interim dividend of Rs 1 per share for a face value of Rs 10 each. The record date for the final dividend was November 03, 2023.
As of Friday’s closing, The President of India’s portfolio gains Rs 146.12 crore in just one day from this Small-Cap stock. The President of India owns 23,37,85,038 shares or 72.84 per cent stake in the company.
About the company: RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia networks, to modernize the train control operation and safety system of Indian Railways. In the fiscal year 2022-2023, the company reduced its debt, and as of right now, its total debt is only about Rs 41.8 crore. The company’s market cap of over Rs 7,000 crore. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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