RaiITel Corporation gains 4% on Rs 210-crore order from Ircon International

RaiITel Corporation of India share price rose 4 percent in the early trade on December 9 after the company received orders worth Rs 210 crore from Ircon International.

“RaiITel Corporation has received work order from Ircon International for design, supply, installation, testing and commissioning of tunnel communication system consisting of emergency call and service telephone, CCTV, tunnel radio and PA system in tunnel environment on the Dharam-Banihal section of the Jammu Kashmir Rail Link Project under Ferozepur division of Northern Railway at a cost of Rs 210.77 crore (Inclusive of GST),” a statement from the company said.

The entire work is to be completed in a period of 12 months.

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The company had made a strong debut on the bourses on February 26 – the day when the benchmark indices crashed around 4 percent each. It mopped up around Rs 819 crore through the public issue. It was a complete offer-for-sale by the government.

RailTel is the information and communications technology (ICT) infrastructure provider and is one of the largest neutral telecom infrastructure providers in India.

It provides a variety of services to the Indian Railways and has implemented MPLS data network for integrated payroll and accounting system, unreserved ticketing system, freight operations information system and coaching operations information systems.

It is also working with the Indian Railways to transform railway stations into digital hubs by providing public Wi-Fi at railway stations across India.

At 9:19am on December 9, Railtel Corp was quoting at Rs 123.40, up Rs 4.25, or 3.57 percent, on the BSE.