Rs 4,600 crore order book: This multibagger railways telecom company bags order worth Rs 113.46 crore from Odisha Computer Application Centre
The stock gave multibagger returns of 241.74 per cent in a year.
RailTel Corporation of India Ltd has received the work order from Odisha Computer Application Centre (“OCAC”) amounting to Rs. 113.46 crore (Including GST) for IP-MPLS Network Connectivity in Odisha under Odisha Net Phase 1.0.
Earlier, ICRA-assigned Credit Rating for Rs 800 crore Bank Facilities (details as per Annexure) and Enhancement of Rs. 200 Crores Bank Facilities of Railtel Corporation of India Ltd. The Long-Term Bank Facilities have been upgraded from [ICRA] AA- (Positive) to [ICRA] AA (Stable), signifying a positive shift in the assessment of these facilities. Simultaneously, the Short-Term Bank Facilities have been reaffirmed at [ICRA] A1+, indicating a continued strong position in the short-term credit landscape.
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RailTel was established to provide statewide broadband and VPN services, as well as a telecom and multimedia network, with the aim of updating Indian Railways' train control operation and safety system. It is a Government of India "Miniratna" PSE. Currently, RailTel's network covers all significant commercial hubs and travels through over 6,000 stations nationwide.
Today, shares of RailTel Corporation of India Ltd soared 3.44 per cent to Rs 352.85 per share with an intraday high of Rs 368.55 and an intraday low of Rs 336.05. The stock gave multibagger returns of 241.74 per cent in a year.
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.
As of December 31, 2023, the company has a healthy order book of over Rs 4,600 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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