Shares of RailTel Corp. surged nearly 4% on Thursday after multiple order wins, including two orders from the State Transport Authority of Odisha.
The first order worth Rs 262 crore includes upgradation of the existing command control centre to a unified command control centre. The second work order worth Rs 30.3 crore includes implementation of the intelligent enforcement management system for the authority, according to an exchange filing.
The company has also received a work order from the Border Security Force for an order amounting to Rs 19.1 crore. The order includes SITC of hardware or software for setting up of BSF private cloud, it said.
RailTel's stock rose as much as 3.87% during the day to Rs 300.65 apiece on the National Stock Exchange. It was trading 2.38% higher at Rs 296.35 per share, compared to a 0.9% advance in the benchmark Nifty as of 3:13 p.m.
The share price has fallen 29.17% in the last 12 months. The total traded volume so far in the day stood at 2.33 times its 30-day average. The relative strength index was at 56.60.
Two analysts tracking the company have a 'sell' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 5.6%.
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