Steelman Telecom hits 20% upper circuit after securing Rs 147 crore contract from Reliance Jio

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Shares of Steelman Telecom surged to a 20 percent upper circuit at Rs 154.8 on December 4 after the company secured a major work order worth Rs 147 crore from Reliance Projects & Property Management Services Ltd (Jio).

Shares of Steelman have declined over 10 percent year-to-date, significantly underperforming the Nifty 50, which has gained 13 percent during the same period.

The contract involves providing a team of frontend, backend, and supervisor personnel to maintain indoor smallcell systems, indoor and outdoor Wi-Fi, and Enterprise UBR (Universal Broadband Radio) sites. The contract will run for three years and requires the deployment of diploma engineers equipped with tools, equipment, and personal protective gear, as specified by the Engineer-in-Charge team overseeing the project.

Follow our live blog for all the market action

Founded in 2003, Steelman specialises in offering services to telecom operators and OEMs. Its portfolio includes network survey and planning, installation and commissioning, network testing and optimization, and managed services for network maintenance.

In H1FY25, Steelman reported a net profit of Rs 3.45 crore, slightly up from Rs 3.39 crore recorded in the year ago period. Its revenue from operations came in at Rs 76.88 crore, down from Rs 93.14 crore a year ago.

Steelman's clientele includes BSNL, Indus Tower, Airtel, Power Grid, Reliance Digital, TCS, Paytm, and Samsung, among others. The company made its public debut on October 10, 2022, with an IPO listed on the SME platform of the BSE.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary. The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.