Telecom stock engaged in providing telecom support services and solutions to address Network Survey, Planning, Installation, Commissioning, and many more hits 20 percent upper circuit in the day’s trade upon receiving work order worth Rs. 147 Crores Reliance Jio.
Price Action
With a market capitalization of Rs. 150 Crores, the shares of Steelman Telecom Limited hit a 20 percent upper circuit at Rs. 154.80 per equity share, from its previous day’s close price of Rs. 129.
What Happened
Steelman Telecom Limited has secured a new work order from Reliance Projects & Property Management Services Limited (Jio) for the Maintenance of indoor small cell, indoor, and outdoor WiFi Enterprise UBR (Universal Broadband Radio) sites for a consideration of Rs. 147 Crores for 3 years.
It involves providing a frontend, backend, and supervisor team to maintain indoor small cell and indoor and outdoor WiFi Enterprise UBR sites, as directed by the engineer-in-charge (EIC) team consisting of Diploma Engineers cum Riggers. It will be provided with necessary tools and equipment, including conveyance, tools and tackles, mobile usage, and Personal Protective Equipment (PPE), as per the requirements.
About the Company
Steelman Telecom Limited is engaged in providing highly skilled services to telecom operators and OEMs. It offers support services and solutions for network maintenance to address Network Survey, Planning, Installation and Commissioning, Network Testing and Optimization, Network Solutions, and Managed Services.
Its services involve Telecom Implementation Services, Radio Frequency Services, Engineering Procurement Construction Management, Managed Services (MS), Payroll & Resource Management, and New Generation Technology.
The company’s service users are Tower Owners, Telecom Operators, Broadband Service Providers, and Equipment Manufacturers like BSNL, Indus Tower, Airtel, Power Grid, and many others.
Financials
Its revenue from operations declined by 2 percent from Rs. 104 Crores in H1FY24 to Rs. 102 Crores in H1FY25, accompanied by losses of Rs. 6 Crores to Rs. 10 Crores.
Written by: Bharath K.S
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