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Railtel Shares Rally 7% on Bagging Rs 482 Crore Orders

The company said that it had received an order from the State Project Director.

Shares of Railtel Corporation of India Ltd rallied around 8% on 18 March after the company announced receiving orders worth Rs 482 crore.

In its regulatory filing on 17 March, the company announced securing an order worth Rs 351.95 crore from the Municipal Corporation for the supply, installation, testing, commissioning, operations, and maintenance of the health management information system of Greater Mumbai at the health department of the Municipal Corporation of Greater Mumbai and has to be executed by 14 March 2030.

In a separate filing on 16 March, the company said that it had received an order from the State Project Director Bihar Education Project Council for a total consideration of Rs 130.60 crore and has to be completed by 13 June 2024.

Earlier in March, the company received an order from the State Transport Authority, Odisha, to upgrade the existing command control centre to a unified command control centre and implement an intelligent enforcement management system for a total consideration of Rs 87.85 crore.

The company has been categorised as a “Mini Ratna (Category-I)” Central Public Sector Enterprise. They stand as one of the country’s largest neutral telecom infrastructure and boast an extensive optic fibre network that covers both urban and rural areas.

At 1:10 pm, the shares of Railtel were trading 1.15% higher at Rs 354.80 on NSE.

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