This PSU stock gained 2.5 percent after the company bagged a major order worth Rs. 68 crore in Jammu smart city for Design, Supply, Operations and Maintenance of data centres and more.
At 12.20, 6th october shares of Railtel Corporation of India Ltd were trading at Rs. 219.60, up by 2.5 percent from previous closing price of Rs. 214.20.
Such bullish stock price movements are observed after the company announced through a regulatory filing on Bombay stock exchange (BSE) that they have received work order from Jammu smart city Ltd for Design, Supply, Installation, Testing, Commissioning and Operations and Maintenance of Data Centre and Disaster Recovery Centre for Integrated Command and Control Centre (ICCC). The value of order is 67.94 crores and contract duration is 36 months.
Looking at the financial statements, company’s revenue increased by 24.08 percent to Rs. 467.61 crores in Q1FY24 from Rs. 376.85 crores in Q1FY23, in the same time period net profit increased by 48.51 percent to Rs. 38.39 crores from 25.85 crores.
Talking about the financial ratios, the company reported return on equity (ROE) of 11.91 percent and return on capital employed (ROCE) of 16.81 percent in the last financial year.
RailTel, a Central Public Sector Enterprise is an ICT provider and one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network. The OFC network covers important towns & cities of the country and several rural areas.
Written by: Vinit Israni
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