Shares of RailTel Corporation of India hit a fresh record high after the company announced that it bagged a work order worth Rs 53 crore from Gujarat Informatics Ltd involving the supply, installation, operations and maintenance of a state-wide surveillance and ITMS project. 

Railtel shares hit an all-time high of Rs 296.35, 1.41% higher than the last closing price on the National Stock Exchange (NSE). However, the stock lost all gains and closed 1.11% lower at Rs 288.90 apiece. 

The project, part of the flagship program Video Integration and State Wide Advance Security-VISHWAS-Phase-II, will be implemented in cluster-1 districts, including Patan, Aravalli, Gandhinagar, Kutch (East), Kutch (West), Mehsana, and Sabarkantha. The estimated revenue for five years from this project is Rs 52.87 crore. 

RailTel Corporation, a Mini Ratna (Category-I) PSU, is one of the largest neutral telecom infrastructure providers in the country, owning a pan-India optic fibre network along railway tracks.

Founded in September 2000, RailTel Corporation is a public sector enterprise of Indian Railways focused on building nationwide broadband and telecom infrastructure. The company’s segments include telecom services and project work services. 

Earlier this month, RailTel Corporation expressed optimism about substantial growth in its railway signalling segment, with a current order book standing at Rs 5,000 crore. The company anticipates new orders in the range of Rs 2,000-2,500 crore over the next 12 to 18 months.