Shares of Railtel Corporation skyrocketed 17% and hit a 52-week high of Rs 348 on 29 December after the company announced securing an order worth Rs 120.4 crore.

In its regulatory filing, the company said that it had received a significant order worth Rs 120.45 crore from South Central Railway. The order involved the enhancement and modernisation of signalling and telecommunication infrastructure, specifically the implementation of an automatic blocking system.

The order is for the implementation of an automatic block signalling system in the Yermaras-Nalwar section of Guntakal division in South Central Railway and has to be executed within 720 days from the date of receipt of the work order.

The new blocking system will play a crucial role in ensuring the safe and efficient movement of trains in the specified railway section and will assist in better coordination within the section.

This order marks the company’s commitment to advancing railway technology and safety.

The shares of the company have given a multi-bagger return of more than 157% in a period of six months.

The company was founded in 2000 and is engaged in the business of providing broadband telecom and multimedia networks and services within as well as outside India.

At 3:30 pm, the shares of Railtel Corporation closed 14.67% higher at Rs 336.50 on NSE.