RailTel shares experienced a notable increase of 6%, rising to ₹420 on the Bombay Stock Exchange (BSE) after the company announced a significant order worth ₹144.88 crore from the Gujarat government's Home Department.
This contract involves the supply, installation, commissioning, and operational maintenance of a CCTV video surveillance system across various branches of the LCB SoG cyber police station, LIB, and police stations in Clusters 1, 2, and 3.
The project is slated for completion by May 21, 2025.
In addition to this order, RailTel secured another contract earlier this week, valued at ₹36.78 crore, from South Eastern Railway.
This project entails providing an electronic interlocking system and signaling arrangements at multiple Bondamunda cabins.
Furthermore, last month, the company was awarded a ₹48.7 crore contract from Health Insurance TPA of India Ltd to develop an integrated claims management solution portal and mobile application, with an expected completion date of June 14, 2030.
On August 30, the Indian government elevated RailTel Corporation of India to 'Navratna' status, as announced by the Department of Public Enterprises (DPE).
This recognition makes RailTel the 22nd Navratna Central Public Sector Enterprise (CPSE) in India, highlighting its impressive annual turnover of ₹2,622 crore and a net profit of ₹246 crore for FY24.
The 'Navratna' status enhances decision-making capabilities, operational efficiency, and overall empowerment for the company.
Public Sector Utilities (PSUs) are categorized into three groups: Maharatna, Navratna, and Miniratna, with the 'Navratna' designation awarded to those demonstrating exceptional financial and market performance.
As of 11:26 AM, RailTel shares were trading 4.45% higher at ₹414.3.
The company has seen a remarkable 17% increase in its stock price in 2024 to date, and a staggering 288% rise over the past two years, bringing its market capitalization to ₹13,274 crore