Stock below Rs 130: This PSU company receives multiple orders worth Rs 292.74 crore!
In FY22, net sales rose by 12.38 per cent and net profit skyrocketed to 46.68 per cent compared to FY21.
On Thursday, shares of RailTel Corporation of India Ltd ended the day positive, up 2.86 per cent to Rs 127.75 per share from its previous closing of Rs 124.20. Recently, the company received multiple orders worth Rs 292.74 crore.
The company received one order from the Government of Puducherry, (Department of Revenue and Disaster Management) for designing, developing, SITC and O&M for 5 years of the integrated command control center and other associated activities for Puducherry Smart City. The total value of the work is Rs 170.11 crore.
The company received another order from NMDC Limited for the implementation of IT Infrastructure for ERP and other future digital initiatives for 5 years at NMDC. The total value of the work is Rs 122.63 crore.
RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom and multimedia network, to modernize the train control operation and safety system of Indian Railways.
Talking about the financials, the company reported positive results in its quarterly and full annual consolidated financial statements. In FY22, net sales rose by 12.38 per cent and net profit skyrocketed to 46.68 per cent compared to FY21. With a market valuation of Rs 4,098.38 crore, the firm has a PE of 19.84 per cent and an ROE of 14.28 per cent. Investors should keep an eye on this PSU stock.