RailTel Corporation Shares Surge 12.5 pc: Here's What Led To Sudden Rally In Stocks Price

??This brings the stock close to its all-time high of Rs 494.41, set in February.
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RailTel Corporation Shares Surge 12.5 pc: Here's What Led To Sudden Rally In Stocks Price (Image Source: Times Now Digital)

Shares of RailTel Corporation of India continued their winning streak for the second consecutive trading session on Friday, jumping 12.50 per cent to reach Rs 488 per share.

RailTel Corporation Share Price: All-Time High

This brings the stock close to its all-time high of Rs 494.41, set in February.

RailTel Share Performance In Previous Trading Session

In the previous session, RailTel's stock rose nearly 2 per cent after the company announced it had secured a Rs 20 crore order from South Central Railway. This contract involves telecommunication works for providing IP-MPLS across 523 RKM in the Secunderabad division.

What Are The Contracts RailTel Won This Month

RailTel has been on a roll this month, winning several significant contracts. These include a Rs 24 crore order from Tamil Nadu Fibrenet Corporation for system integration, installation, and maintenance of headend systems. Additionally, RailTel received an Rs 11 crore order from the Ministry of Defence for creating Points of Presence (PoP) at customer sites. Another major win was an Rs 81.46 crore contract from the National Informatics Centre Services for the supply, installation, configuration, commissioning, integration, and maintenance of information and communication technology (ICT) infrastructure.

RailTel Share Price Increase In June

Investors have responded positively to this steady stream of orders, pushing RailTel's share value up by 15 per cent in June alone.
RailTel Share Price Year-To-Date
Year-to-date, the shares have grown by 40 per cent, building on a remarkable return of 167 per cent in 2023.
About RailTel
RailTel, classified as a "Mini Ratna (Category-I)" Central Public Sector Enterprise, is a leading provider of ICT services in India. It is also one of the country's largest neutral telecom infrastructure providers, with an extensive optic fiber network covering both urban and rural areas.
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