Shares of railway companies, including RailTel and Rail Vikas Nigam, experienced significant gains in today’s trading session.
RailTel’s stock rose by over 3% after the company secured a ₹52.66 crore contract from the Uttar Pradesh Police Recruitment and Promotion Board. This project involves implementing live CCTV surveillance, Aadhaar-based biometric control, and digital fingerprint and facial recognition services during exams and other recruitment processes. RailTel reported a 25.2% year-on-year increase in net profit to ₹48.7 crore for the quarter ended June 2024. Revenue from operations also grew by 19.4% YoY to ₹558.1 crore. The company expects telecom revenue to grow by 9-10% and project revenue to reach ₹2,000 crore, driving overall revenue growth of 25-30% in FY25.
Rail Vikas Nigam shares surged 2.8% to ₹586.70, while Indian Railway Finance Corporation shares also rose by over 2%.
