RailTel Corporation of India share price added over 8 percent intraday on March 22 after the company received a work order worth Rs 153.15 crore from Central Coalfields Limited.
".... has received the work order amounting to Rs 153.15 crore (Including GST) from M/s Central Coalfields Limited, for establishment of MPLS-VPN Network of higher Bandwidth on rental basis for O5 years," company said in its release.
The company had a strong entry on the exchanges on February 26 with stock close at Rs 121.40, jumped 29.15 percent, on the BSE after hitting an intraday high of Rs 125.50.
Earlier in March, the company has started monetising its WiFi facilities by launching high-speed paid WiFi at over 4,000 railway stations. The scheme is expected to bring additional revenue of Rs 15 crore per annum to the company.
Administrated by the ministry of railways, Railtel Corporation Of India is a public sector company, which is one of the largest neutral telecom infrastructure providers in the country. Its initial public offering (IPO) was open for subscription from February 16-18 and was subscribed 42.39 times. The company raised about Rs 819 crore through the IPO.
At 1135 hours, Railtel Corporation of India was quoting at Rs 136.10, up Rs 5.55, or 4.25 percent on the BSE.
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