Railtel shares opens 5% higher on bagging major orders worth Rs 351.95 crore and Rs 130.60

Shares of Railtel Corporation of India Ltd opened nearly 5 percent higher on March 18 after the company informed the exchanges about securing orders worth Rs 351.95 crore and Rs 130.60 crore over the weekend.

The company’s stock has had an impressive performance, gaining over 250 percent in the past year and over 65 percent in the past six months. On February 28, the stock hit a 52-week-high of Rs 491.45.

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On March 17, Railtel announced that it had received a Rs 351.95-crore order from the Municipal Corporation of Greater Mumbai. This order includes supply, installation, testing, commissioning, operation and maintenance of the health management information system (HMIS) in BMC health department formerly known as Brihanmumbai Municipal Corporation. Completion date for this high-profile public welfare project is expected to be first half of 2030.

The order is valued at Rs 130.60 crore and will require an agency for the supply of teaching and learning materials in all subjects and for all Classes I to V. This work is expected to be completed by June 13, 2024.

A further order announced by the company on March 16 saw Railtel secure business from the State Project Director (SPD) Bihar Education Project Council (BEPC). This order totals Rs 130.60 crore and, like the previous one,v will produce empanelment for an agency providing materials and full set of teaching aids.

As of 11:10 am on March 18, Railtel Corporation of India Ltd’s shares were trading 1.01% higher at ₹354.30, reflecting the market’s positive response to the company’s recent order wins.