Stock To Buy: Miniratna PSU To Consider Dividend On July 8, Shares Rally 271% In 1-Yr

Miniratna public sector undertaking RailTel Corporation of India Ltd will hold meeting of Board of Directors on July 8, 2024 to consider recommendation of final dividend, if any for the FY 2023-24. Current market price of RailTel Corporation share on BSE is Rs 480.90 per share. RailTel Corporation shares witnessed attractive rally of 271% in last 1-year and 36% year-to-date. The company has a market capitalisation of Rs 15,433.93 crore. Check key details below:

RailTel Corporation of India Ltd To Consider Dividend: As per the regulatory filing of RailTel Corporation issued as on July 3, 2024, "In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 08th July, 2024, inter-alia to consider recommendation of Final Dividend, if any, for the Financial Year 2023-24."

RailTel Dividend History: RailTel Corporation of India announced 7 dividends since March 31, 2021. In last 1-year, RailTel Corporation of India announced an equity dividend amounting to Rs 2.05 per share. At the current share price of Rs 480.90, RailTel Corporation of India offers a dividend yield of 0.43%, according to Trendlyne.

Should You Buy RailTel Corporation Shares? According to Ruchit Jain, Lead Research, 5paisa.com, "Investors can buy the stock in the range of Rs 490-480 for a potential target of Rs 600. The stop loss on long positions should be placed below Rs 430."

RailTel Corporation Share Performance: The 52-week high price of RailTel Corporation shares on BSE is Rs 513.25 apiece (as on 24/06/2024) and 52-week low price is Rs 127.40 apiece (as on 04/07/2023), respectively. RailTel Corporation shares gained 23% in last 3-months, gained 32% in last 6-months, and offered return of 427% in last 2-year. In last 3-years, RailTel Corporation shares witnessed stunning surge of 239%.

RailTel Corporation Bags Order On June 20, 2024: The exchange filing of RailTel dated June 20 stated, "Pursuant to Regulation 30 read with Part A (B) of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that RailTel Corporation of India Ltd. ("the Company") has received the work order from South Central Railway for Telecomminucation works for provision of IP-MPLS in 523RKM of secunderabad division of South Central Railway amounting to Rs. 20,22,05,784 (Including Tax)."

RailTel Corporation of India About: RailTel Corporation a "Mini Ratna (Category-I)" PSU is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optical fiber network. RailTel is committed to bring cutting edge technology and offer innovative services to the Indian Telecom market. RailTel is in the forefront in providing nationwide Broadband Telecom & Multimedia Network in all parts of the country in addition to modernization of Train operations and administration network systems, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of 5paisa.com. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.