RailTel Corporation of India share price rose in early trading on September 5 following the announcement of a new contract worth Rs 10.92 crore.
At 09:56am, Railtel Corporation of India was quoting at Rs 497.00, up Rs 2.70, or 0.55 percent, on the BSE.
This contract, awarded by Northern Railways, involves a railway telecom project with a completion deadline set for September 5, 2025.
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Additionally, on August 30, RailTel was granted 'Navratna' status by the Ministry of Finance. This prestigious status is given to government-owned companies with strong financial performance and allows them greater operational autonomy.
Specifically, Navratna companies can invest up to Rs 1,000 crore without prior government approval and have more flexibility in project allocation, either up to 15 percent of a specific project or 30 percent of their net worth annually, within the Rs 1,000 crore limit.
In August, RailTel also secured a substantial work order valued at Rs 52.66 crore from the Uttar Pradesh Police Recruitment and Promotion Board.
This project focuses on enhancing security and efficiency during written exams and other recruitment processes through live CCTV surveillance, Aadhaar-based biometric controls, and advanced digital recognition technologies.
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