RailTel’s ₹113 Crore Project Win Boosts Shares by ~10%

On March 14, 2024, Railtel Corporation of India Ltd declared that the company had bagged a work order of ₹113.46 crore from the Odisha Computer Application Centre (OCAC).

Details of the Order

On Thursday, Railtel Corporation of India Ltd announced they got a work order from the Odisha Computer Application Centre. As per the company’s regulatory filing, the order is to set up IP-MPLS network connectivity in Odisha under OdishaNet Phase 1.0. The project must be executed by September 2025.

After the announcement of the work order, which is of more than ₹100 crore, the shares of Railtel Corporation of India Ltd were trading in green. On March 14, 2024, the shares of RailTel closed higher by 9.99%, at ₹339.05 on the National Stock Exchange (NSE). Today, on March 15, 2024, the stock opened at ₹347.35. As of 1:28 PM, the share price of Railtel Corporation of India Ltd touched the day’s high at ₹368.55.

The Railtel Corporation of India Ltd stock has delivered multibagger returns of about 216.28% in the last one year.

It is to be noted that this is the second order the company has received this March 2024. On March 3, 2024, Railtel Corporation of India bagged an order from the State Transport Authority, Odisha. The order was to upgrade the existing Command Control Centre to a Unified Command Control Centre and implement the Intelligent Enforcement Management System (IEMS). This order by the State Transport Authority of Odisha was of more than ₹87 crore.

About Railtel Corporation of India Ltd

Incorporated in 2000, Railtel Corporation of India is a Miniratna Public Sector Enterprises (PSE) of the Government of India. The company is an Information and Communications Technology (ICT) provider. They are one of the largest neutral telecom infrastructure providers in India.

About Odisha Computer Application Centre

Odisha Computer Application Centre was registered under the Society Registration Act 1860 on March 21, 1985. Earlier, the company was under the administrative control of the Science and Technology Department, Government of Odisha. Currently, the Odisha Computer Application Centre is under the administrative control of the IT Department (Currently Electronics & Information Technology Department).

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