RailTel Corp Shares Gain After Rs 156-Crore Order From Maharashtra Government

RailTel Corp. of India's share price rose on Friday, after the company secured a significant work order worth Rs 156 crore from the Maharashtra government's Rural Development Department.

This project focuses on the operationalisation of ASSK-GP initiatives in the Konkan, Pune, and Nashik regions, according to an exchange filing.

This latest achievement follows RailTel's recent elevation to 'Navratna' status on Sept. 2, marking it as the 22nd central public sector enterprise to attain this prestigious designation. This status is expected to enhance the company's operational autonomy and enable it to undertake larger projects with greater ease.

In fiscal 2024, RailTel reported an annual turnover of Rs 2,622 crore, alongside a net profit of Rs 246 crore.

Shares of RailTel rose as much as 3.73% to Rs 478.80 apiece. They pared gains to trade 1.72% higher at Rs 469.55 apiece, as of 09:41 a.m., compared to a 0.13 advance in the NSE Nifty 50.

The stock has risen 110.23% in the last 12 months. Total traded volume so far in the day stood at 2.2 times its 30-day average. The relative strength index was at 48.

Out of three analysts tracking the company, one maintains a 'buy' rating and two suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 41.2%.