Shares of Railtel Corporation of India Ltd opened nearly 5 percent higher on March 18 after the company informed the exchanges that it had received orders worth Rs 351.95 crore and Rs 130.60 crore over the weekend.
The shares have gained over 250 percent in the past year and over 65 percent in the past six months. On February 28, the stock had hit a 52-week-high of Rs 491.45.
On March 17, Railtel told the exchanges that it had received a Rs 351.95-crore order from the Municipal Corporation of Greater Mumbai. The order involves the supply, installation, testing, commissioning, operations, and maintenance of the health management information system (HMIS) for the health department of the Municipal Corporation of Greater Mumbai.
Also Read | Railtel Corporation gets work order worth Rs 82.41 crore; shares trade lower
The governing civic body of Mumbai was formerly and commonly known as the Brihanmumbai Municipal Corporation (BMC). The order is expected to be executed by March 14, 2030.
On March 16, Railtel said it had received another order from the State Project Director (SPD) Bihar Education Project Council (BEPC), amounting to Rs 130.60 crore. The order expected to be completed by June 13, 2024, involves the empanelment of an agency for the supply of teaching and learning material for Class I to V, the company said.
Railtel shares were up for the third session on March 18, and at 9.53 am traded 2.4 percent higher at Rs 359.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
