- RailTel shares rose 8.8% intraday to Rs 407.7, with trading volume 14 times its 30-day average
- RailTel secured a Rs 209 crore contract from Bihar government for PM SHRI education project
- The PM SHRI scheme aims to improve education quality under the National Education Policy 2020
RailTel Corporation of India Ltd. shares recorded their biggest jump in four months during early trade on Monday after securing a contract from the Bihar government. The broader railway counter also rose.
The company received a letter of award from the State Project Director, Bihar Education Project Council on Saturday for a project focused on enhancing education quality under the PM SHRI scheme. The order size is Rs 209 crore.
Pradhan Mantri Schools for Rising India (PM SHRI) is a centrally sponsored scheme aimed at improving the quality of education and infrastructure in schools. The PM SHRI schools showcase the implementation of the National Education Policy 2020.
RailTel is a 'Mini Ratna' PSU under the Ministry of Railways. It is a wholly-owned subsidiary of Indian Railways and was established to provide broadband and multimedia services across the country and to modernize the Indian Railways' communication systems.
Railway stocks trade higher, led by gains in RailTel.
Last week, RailTel secured two orders worth Rs 103.4 crore from Panvel and Nashik municipal corporations.
In Panvel, the company will supply, install, and provide service for the provision of connectivity-based internet lease line for the Panvel Safe City project. The company will conclude the order by 19 March 2026.
For Nashik Municipal Corp, Railtel Corp will implement the agency for supply, install, test, and commission the Nashik and Trimbakeshwar city network backbone, along with providing operations and maintenance services.
RailTel Share Price Movement
RailTel share price advanced 8.8% intraday to Rs 407.7 apiece.
RailTel share price advanced 8.8% intraday to Rs 407.7 apiece. The scrip was trading 7.5% higher by 10:00 a.m. The benchmark NSE Nifty 50 was down 0.1%.
The stock has fallen 14% in the last 12 months and is flat on a year-to-date basis. The total traded volume so far in the day stood at 14 times its 30-day average. The relative strength index was at 62.
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