The benchmark equity indices opened Tuesday’s trading session on a flatter note. The NSE Nifty 50 opened 22 points or 0.09 percent higher at 25,032.50, while the BSE Sensex opened 62 points or 0.08 percent higher at 81,760.
Overall, Sensex and Nifty opened little changed on Tuesday, with traders anticipating profit-taking as benchmark indexes remain close to record highs.
Listed below are two railway stocks that received orders of up to Rs.111 crores:
Railtel Corporation of India Ltd
With a market capitalization of Rs. 16,002 crores, the shares of the PSU company started Tuesday’s trading session on a flatter note at Rs. 504.50 compared to its previous close of Rs. 503.10.
During the trading session, the shares hit a low of Rs. 495.55, losing around 1 percent and are currently trading at Rs. 500 apiece.
As per the exchange filing, the company received the work order from Eastern Railway for the implementation of Unified Comm. Infra. comprising LANInfra, IP exchange, and VOlP-based control comm. and IP-MPLS-based network over Eastern Railway amounting to over Rs. 70. 93 crores.
Looking at the recent financial statements, the revenue increased by around 28 percent from Rs. 468 crores in the March quarter to Rs. 599 crores in the June quarter. In addition, the net profits zoomed by around 79 percent from Rs. 38 crores to RS. 68 crores during the same period.
Rail Vikas Nigam Ltd
With a market capitalization of Rs. 1,20,097 crores, the shares of the company that specializes in infrastructure development for the Indian railway network started on Tuesday’s trading session on a flatter note at Rs. 579.80 compared to its previous close of Rs. 577.20.
During the trading session, the shares hit a low of Rs. 572, losing around 1 percent and are currently trading at Rs. 575 apiece.
According to the exchange filing, the company had emerged as the Lowest Bidder from Southern Railway for the provision of MSDAC with existing DCTC at Stations (To serve as Dual detection) and replacing balance AFTCs in MAS- GDR & MSB-TBM automatic block signalling sections of Chennai Division in Southern Railway. The project is valued at over Rs. 111 crores.
Looking at the company’s financial performance, the revenue decreased by 39 percent from Rs. 6,714 crores during the March quarter to Rs. 4,074 crores in the June quarter. On the other hand, the net profits declined by around 53 percent from Rs. 478 crores to Rs. 224 crores during the same period.
Written By Vaibhav Patil
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