RailTel Corporation of India Ltd (RailTel) saw its shares climb more than 3%, after the company announced it had bagged two major work orders with a combined value of over ₹103 crore. As of 9:40 AM, the shares were trading 3.25% higher at Rs 375.20.
In a stock exchange filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, RailTel informed that it received a work order worth ₹70.95 crore (excluding tax) from Nashik Municipal Smart City Development Corporation Ltd. The project involves selection of an implementation agency for the supply, laying, installation, testing and commissioning of the Nashik & Trimbakeshwar City Network Backbone, along with operations and maintenance services. The project is expected to be completed by December 31, 2026.
On the same day, RailTel also received another significant order worth ₹32.51 crore (including tax) from Panvel Municipal Corporation. The scope of this project includes supplying, installing and providing SD-WAN based Internet Lease Line/MPLS Line connectivity services for the Panvel Safe City Project. This order has a longer execution timeline, with completion scheduled by March 19, 2031.
Both projects were awarded by domestic municipal corporations, and RailTel clarified that they do not fall under related party transactions.
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