RailTel Corporation shares surge on securing order worth Rs 53 crore

Shares of RailTel Corporation surged as much as 7.47 per cent to hit an intraday high of Rs 506 after the company informed exchanges that it received an order worth Rs 52.66 crore from Uttar Pradesh Police Recruitment and Promotion Board,

The company received order from Uttar Pradesh Police Recruitment and Promotion Board for installation of Live CCTV Surveillance Service, Impersonation control through Aadhaar based biometric service, Digital Finger print and Facial recognition during written examination and DV&PST.

The company has to execute order by August 31, the company said in an exchange filing.

RailTel Corporation shares have so far this year surged 50 per cent and has outperformed the BSE Smallcap index, data from stock exchanges showed.

RailTel Corporation's net profit in the first quarter of current financial year rose 27 per cent to Rs 48.67 crore as against Rs 38.39 crore during the same period last year.

Its revenue from operations rose 19 per cent to Rs 558 crore versus Rs 468 crore in the year ago period.

RailTel, a "Mini Ratna (Category-I)" Central Public Sector Enterprise, is a leading ICT provider and one of the largest neutral telecom infrastructure providers in the country, with a Pan-India optic fibre network.

RailTel's primary objective is to modernise the telecom systems for train control, operations, and safety. Additionally, it aimed to generate extra revenue by building a nationwide broadband and multimedia network, utilising the right of way along railway tracks to lay optical fibre cables. Currently, RailTel's optic fibre network extends over 61,000 route kilometres and connects more than 6,108 railway stations across India, with citywide access spanning over 21,000 kilometres.

As of 9:56 am, RailTel Corporation shares traded 7.25 per cent higher at Rs 498.60, outperforming the Sensex which was down 0.01 per cent.