The shares of one of the largest telecom infrastructure provider rose over 5.5 percent and hit a 52-week high of Rs 182.65 during early trade on Tuesday after the company received a work order worth Rs 700 crore.
At 1:30 p.m., On the National Stock Exchange, Railtel Corporation of India Ltd shares were trading at Rs 176.80 a share, up Rs 3.80 or 2.20 percent from the previous close price. The company has a market capitalization of Rs 5,674 crore.
As per company’s exchange filing, RailTel Corporation of India received an order worth Rs 700 crore from Pimpri Chinchwad Smart City Limited (PCSCL) to provide end-to-end services for the monetisation of PCSCL city Network Infrastructure on a revenue-sharing model.
The stock has increased 57 percent in the previous six months and 78 percent in the last year.
Railtel Corporation of India is one of the country’s primary neutral telecom infrastructure providers., Company facilitates co-location for equipment of telecom operators at railway stations and also provides broadband and VPN services.
Railtel Corporation of India reported a return on equity ratio of 11.45 percent and return on capital employed at 14.21 percent.
In terms of revenue,Railtel Corporation of India reported a net profit of Rs 37 crore for the April-June quarter, up 48 per cent from Rs 25 crore reported in the corresponding period last year.Revenue from operations for June 2023 quarter grew 25 percent YoY to Rs 463 crore as compared to Rs 370 crore in the year-ago period.
As per current shareholding pattern,the promoters own 72.84 percent of the company,domestic institutional investors own 2.2 percent and retail investors own 23.64 percent
Written by Omkar Chitnis
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