Shares of RailTel Corporation of India Ltd are trading flat after touching the day’s high of Rs 293.40 on 11th March. This is despite the company saying it has received a services order worth Rs 115.20 crore from Power Grid Corporation of India Ltd.

RailTel said in an exchange filing that the Letter of Intent (LoI) involves providing services to Power Grid Corporation of India Ltd. Moreover, the project is expected to run until 10th September, 2034.

The company clarified that the project is not a related-party transaction. It added that neither its promoters nor any promoter-group entities have any interest in the awarding company.

RailTel added that it received the LoI after market hours on 10th March.

In a separate filing, the company addressed media reports about a Memorandum of Understanding (MoU) with GAIL (India) Ltd. This MoU aims to build digital infrastructure.

RailTel confirmed that it signed a non-binding MoU with GAIL on 5th March, 2026, to explore opportunities in digital infrastructure development. However, no final terms have been decided yet.

The company said the MoU does not qualify as a material event under SEBI rules. Additionally, it added that the news report had no material impact. Any share price movement is likely due to general market conditions.

At 12:54 PM, shares of RailTel were trading 0.035% higher at Rs 288.50 on the NSE.

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