RailTel Corporation has received a Letter of Intent for a Rs 274 crore order from the Motor Vehicles Department of Maharashtra.
RailTel Corporation has received a Letter of Intent for a Rs 274 crore order from the Motor Vehicles Department of Maharashtra. The Navaratna company has bagged the order to design, implement, maintain, and operate the Intelligence Traffic Management System for Maharashtra’s Motor Vehicle Department.
As per the exchange filings, the order pertains to the various blackspots or vulnerable spots in Vidarbha Circle of Maharashtra. The order extends to a period of ten years. The company said that the estimated size of the order is 274.40 crore however, the exact value of the order will be known when the purchase order is issued.
RailTel’s stock jumps
RailTel’s stock price went up by 3.46 percent on Thursday. The share opened at Rs 447 on Thursday morning and is trading at Rs 457 at 01:30 PM.
RailTel’s stock price has been on a continuous upward trend for the past month. It has gained 41.97 percent in one month. On May 8, the company’s share price was trading at Rs 300, and in about a month, the share price rose by about Rs 157, trading at Rs 457 on June 5.
What does RailTail do?
RailTel is a Navratna PSU company under the Ministry of Railways. It is one of the largest neutral telecom service providers in India. The company has an extensive fibre network stretched over 62000 KM along the railway tracks in India and has a 21000 KM citywide network.
The company provides extensive signalling services and has a dedicated data centre network. In Q4FY25, RailTel posted a revenue of Rs 1308 crore and a profit of Rs 131.8 crore. Financial Express