Telecom Sector Miniratna Company Bagged Order Worth Rs 294.37 Crore

RailTel Corporation of India Ltd. today, June 26, 2023, informed the exchange that it has bagged a work order worth Rs 294.37 Crore from Tamil Nadu State Marketing Corporation (TASMAC).

According to the exchange filing, the order relates to implementation of the project on Integrated Solution enabling end-to-end computerization and connectivity of core and support functions of TASMAC for five years.

"RailTel Corporation of India Ltd. ("the Company") has received the work order from Tamil Nadu State Marketing Corporation Ltd. ("TASMAC") for Implementation of the Project on Integrated Solution enabling End-to-End computerization & connectivity of Core and Support functions of TASMAC for a period of 5 years amounting to Rs. 294.37 Crore (including taxes)," the Board of Directors of Railtel Corporation of India said in an exchange filing.

Stock Movement

Post announcement, the shares of RailTel Corporation traded in the green through the day. Meanwhile, the stock jumped 0.16%, ended at Rs 128.05 apiece on BSE. On intraday, the stock touched Rs 129.65 apiece high and Rs 126.50 apiece low.

It traded the 52-week high on Nov 28, 2023, at Rs 148.70 apiece and 52-week low on Jun 90.50 apiece, respectively.

The stock declined 0.43% in the past 1-week and jumped 7.11% in the past 1-month. It gave a robust return of 28.89% in the past-3 months. It jumped 37.10% in the past year. It gave 13.25% negative return in the past 2-years.

About - RailTel Corporation of India Ltd.

RailTel Corporation of India Ltd. is a small-cap "Mini Ratna (Category-I)" PSU operating in the telecom services sector. It is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optical fiber network. It has a market capitalisation of Rs 4,109.62 Crore.