RailTel Shares In Focus After Winning Orders Worth Rs 714 Crore
RailTel's shares have fallen 28.63% in the last 12 months and 14.38% year-to-date.
RailTel Corp. won projects worth Rs 713.55 crore from Bihar government on Monday. The five projects are from the state project director of Bihar Education Project Council.
The first order is for the SITC of ISM Lab, according to the exchange filing. The project worth Rs 59 crore is to be completed by Dec. 31. The second project by the Bihar government is for the procurement, supply and installation of smart classrooms at government secondary and senior secondary schools. The project worth Rs 257 crore is to be completed by March next year.
The third project is worth Rs 89.91 crore and encompasses the supply of teaching learning materials of classes I–V for the government schools in the state. The fourth project is for the SITC of ICT Labs and is worth Rs 44.21 crore.
The fifth project is also for the procurement, supply and installation of smart classrooms at government schools, but for the middle schools. The project to be completed by March 2026 is worth Rs 262.14 crore.
RailTel Corp.'s profit in the first quarter of this financial year rose 35.8% to Rs 66.1 crore in the quarter ended June. Revenue increased by 33.3% year-on-year for the three months ended June, reaching Rs 743.80 crore.
Share Price
The business update was shared aftermarket hours. The stock settled 0.42% higher at Rs 345.95 apiece on the NSE, compared to a 0.13% advance in the benchmark Nifty 50. RailTel's shares have fallen 28.63% in the last 12 months and 14.38% year-to-date.
Both analysts tracking the company maintain a 'sell' rating, according to Bloomberg data. The average 12-month consensus price target of Rs 247.50 implies a downside of 28.5%.
