President of India’s portfolio gains Rs 1064,89,08,481 from this multibagger railway telecom stock in just 1 day with Rs 4,800 crore order book – scrip hit 52-week high!
The stock gave multibagger returns of 185 per cent in just 5 months and over 350 per cent in 1 year.
Today, the stock market ended the day in green with the BSE Sensex Index up by 0.42 per cent at a level of 73,095.22 and the NSE Nifty-50 Index up by 0.34 per cent at a level of 22,198.35. Along with the main indices in green, shares of RailTel Corporation of India Ltd surged 13.97 per cent and made a fresh 52-week high of Rs 483.65 per share from its previous closing of Rs 424.35. At the closing bell, shares of the company were trading at Rs 469.9 per share, up 10.73 per cent with a spurt in volume by more than 4.17 times on BSE.
Established in 2000, RailTel Corporation of India Ltd (RCIL) is a "Miniratna" public sector enterprise under the Indian government, offering various telecom services including broadband, VPN, and data centres. With its extensive network covering over 6,000 stations and 61,000+ km of fiber optic cables, RailTel reaches 70 per cent of India's population and is the only consistently profitable, debt-free telecom company in the government sector.
The company experienced strong performance with both telecom and project segments exceeding Rs 300 crore in turnover and project segment margins improving. A robust order book of over Rs 4800 crore supported by new orders of Rs. 2000 crore this year positions them well for growth, with an expected order inflow of Rs. 4000-5000 crore next year. They are expanding their rural broadband presence and remain committed to the NOIDA data centre project, signifying their focus on the growing Indian data centre market.
The President of India’s portfolio owns 23,37,85,038 shares or 72.84 per cent stake in the company. As of today’s closing, the stock is up by Rs 45.55 per share or 10.73 per cent from its previous closing. Therefore, the President of India’s portfolio gains: 23,37,85,038 shares x Rs 45.55 per share = Rs 1064,89,08,481 in just 1 day.
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In February 2024, the company bagged a total of 3 orders worth Rs 282,85,48,661 from various clients across India. The first order received is worth Rs 124,90,58,743 from Western Railway for the implementation of unified communication infrastructure comprising IPMPLS LAN Infra, VOIP exchange, IP-based control communication and replacement of UTN. The second order received is worth Rs 18,21,33,918 from the Ministry of Defence for the laying of OFC cable and maintenance. The third order received is worth Rs 1,39,73,56,000 from Prasar Bharati Broadcasting Corporation of India for the design, development, implementation, operations and maintenance of the OTT platform.
According to Quarterly Results, the net sales increased by 47.1 per cent to Rs 668.36 crore and net profit increased by 94.5 per cent to Rs 62.14 crore in Q3FY24 compared to Q3FY23. According to nine-month results, the net sales increased by 37.7 per cent to Rs 1,735.12 crore and net profit increased by 49.2 per cent to Rs 168.68 crore in 9MFY24 compared to 9MFY23
The stock gave multibagger returns of 185 per cent in just 5 months and over 350 per cent in 1 year. Investors should keep an eye on this small-cap railway telecom stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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