- Railtel Corp secured two orders worth Rs 103.4 crore from Panvel and Nashik municipal corporations
- The Panvel order involves connectivity-based internet lease line for the Safe City project by March 2026
- Railtel will implement Nashik and Trimbakeshwar city network backbone with maintenance till December 2026
Railtel Corp share price hit over one-month high in Friday's session as the railway PSU secured two orders worth Rs 103.4 crore. The orders are from Panvel and Nashik municipal corporations.
In Panvel, Raitel Corp will supply, install, and provide service for provision of connectivity-based internat lease line for Panvel Safe City project. The company will conclude the order by 19 March 2026, according to an exchange filing.
For Nashik Municipal Corp, Railtel Corp will implement agency for supply, install, test, and commission Nashik and Trimbakeshwar city network backbone along with providing operations and maintenance services, the company said in the exchange filing.
Railtel Corp will complete the project for Nashik Municipal Corp by December 2026. The company has been steadily acquiring orders in the current week, which has brought the stock to investors' attention.
On Tuesday, Railtel Corp received orders worth Rs 18.56 crore from Indian Railway Catering and Tourism Corp for comprehensive cyber security intelligence services. Railtel will execute the contract by September 2028.
On Monday, Railtel Corp received multiple letter of acceptances from the State Project Director Bihar Education Project Council. The nature of the order is supplying various equipment for labs, and teaching materials. The total value of the multiple orders are 520 crore from State Project Director Bihar Education Project Council.
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Railtel Corp share price rose 4.33% to Rs 379.15 apiece, the highest level July 30. The stock has resumed its rally in Friday's session after one-day blip in the previouse session.
Railtel share price was trading 2.64% higher at Rs 372.80 apiece as of 10:33 a.m.
The stock declined 20.66% in 12 months, while it declined 7.86% on year-to-date basis. Total traded volume so far in the day stood at 3.7 times its 30-day average. The relative strength index was at 57.82.
Two analysts tracking the company suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 33.8%.
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