RailTel Corporation of India rose 1.11% to Rs 132.20 after the company said that it has received a work order worth Rs 119.72 crore from Bharat Coking Coal.
The order is for implementation of MPLS-VPN services along with miscellaneous services at 340 locations of Bharat Coking Coal (BCCL) for the order is 60 months (5 years).RailTel Corporation of India posted a 61.1% rise in consolidated net profit to Rs 69.66 crore on a 52% jump in net sales to Rs 410.60 crore in Q3 FY21 over Q3 FY20.
RailTel Corporation of India, a public sector undertaking under the Ministry of Railways (MoR), Government of India, is an information and communications technology (ICT) infrastructure provider and is one of the largest.
Shares of RailTel Corporation were listed on the stock exchanges on 26 February 2021. The stock was listed at Rs 104.60, a premium of 11.28% to the initial public offer (IPO) price.
The IPO of RailTel Corporation of India was subscribed 42.39 times. The issue opened for bidding on 16 February 2021 and closed on 18 February 2021. The price band for the IPO was set at Rs 93-94 per share.
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