RailTel stock climbs 4% after firm secures work order from Rail Vikas Nigam

Stock of RailTel Corp gained 4 per cent today after the firm said it has received work order worth Rs 11.57 crore from Rail Vikas Nigam (RVNL).

RailTel Corp stock zoomed 4.07 per cent to Rs 93.25 against the previous close of Rs 89.60 on BSE today. The shares have gained after two days of consecutive fall. A total of 1.90 lakh shares of the firm changed hands, amounting to a turnover of Rs 1.73 crore. Market cap of the firm rose to Rs 2,923.75 crore on the BSE.

The stock trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.

RailTel Corp shares fell 33.85 per cent in one year and lost 21.77 per cent since the beginning of this year. The stock hit a 52-week low of Rs 90.89 on April 22, 2021 and a 52-week high of Rs 230.14 on October 14, 2021.

“RailTel Corporation of India Ltd has received work order from Rail Vikas Nigam Limited (RVNL) for installation of RailTel’s MPLS-VPN services for 5 years at various locations of RVNL for an amount of Rs 11.57 crore (Including GST),” the firm said in a communication to the bourses.

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The firm reported a 5.24 per cent fall in consolidated net profit to Rs 66.01 crore in Q3 against a profit of Rs 69.66 crore in the year-ago period.

Net profit slipped 2.21 per cent from Rs 67.50 crore on a quarter-on-quarter basis.

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However, sales climbed 1.73 per cent to Rs 417.69 crore in the December quarter as compared to Rs 410.60 crore in the corresponding quarter of last fiscal. On a quarter-on-quarter basis, sales climbed 16.51 per cent from Rs 358.29 crore.

Operating profit excluding other income slipped 43.26 per cent to Rs 70.84 crore in the December quarter against Rs 124.85 crore in the corresponding quarter of previous fiscal.

RailTel Corporation is a Mini Ratna (Category-I) PSU and is one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive right of way (ROW) along railway track. The company’s segments include telecom services and project work services.

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