Heavy Buying: Navratna PSU Railway Company Secures Rs 79.84 Crore Order – Stock Rallies Over 8 Per cent, Trading Volumes Surge Over 7 Times on the BSE!
FIIs increased their stake and the company’s shares have delivered an impressive return of around 100 per cent just 1 year.
This Small-Cap railway company has received a work order from the Maharashtra Housing and Area Development Authority (MHADA) for a project valued at Rs 79.84 crore (including tax). The project involves the selection of a service provider for cloud hosting and managed services to set up, migrate, and manage the Data Centre (DC) and Disaster Recovery (DR) site for MHADA on the cloud. The contract is scheduled for completion by January 15, 2025.
RailTel Corporation of India Ltd was incorporated in 2000 to create nationwide broadband and VPN services, a telecom and multimedia network, and modernize the train control operation and safety system of Indian Railways.
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Recently, the Department of Public Enterprises, Ministry of Finance, Government of India, has granted "Navratna Status" to RailTel Corporation of India Ltd.
Currently, RailTel Corporation of India Ltd shares rallied over 8 per cent and are trading at Rs 440.90 per share on the BSE. The company’s current market capitalization stands at Rs 14,150 crore. The stock has delivered a multibagger return of around 100 per cent in just 1 year.
As per the Quarterly Results, in the first quarter of FY25, RailTel Corporation of India Ltd recorded a revenue of Rs 558 crore. The operating profit for Q1 FY25 stood at Rs 103 crore. The net profit for Q1 FY25 was Rs 49 crore. Looking at the annual performance, the company generated a revenue of Rs 2568 crore in FY25, compared to Rs 1957 crore in FY23. The operating profit for FY24 was Rs 464 crore, with a net profit of Rs 246 crore.
Disclaimer: The article is for informational purposes only and not investment advice.
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