Pace Digitek gains after bagging Rs 891 million order from RailTel Corp

Pace Digitek added 2.82% to Rs 181.15 after it has secured an order worth Rs 890.69 million from RailTel Corporation of India (RCIL) for the supply, installation and commissioning of IP-based video surveillance systems in LHB coaches.

The project involves deployment of IP-based video surveillance systems in LHB coaches for a customer of RailTel on a back-to-back basis. The contract includes a three-year warranty, followed by five years of comprehensive annual maintenance contract (CAMC).

The order has been awarded by a domestic entity and is to be executed within eight months from the date of the Letter of Award, the company said.

Pace Digitek clarified that neither the promoter nor the promoter group has any interest in the awarding entity. The contract does not fall under related party transactions.

Pace Digitek provides solutions for telecom infra and solar industries. It is involved in the manufacturing, installation and commissioning of DC Power systems, lithium batteries, monitoring systems and inverter.

RailTel was incorporated in 2000, with the objective of creating nationwide broadband and VPN services, telecom, and multimedia networks to modernize the train control operation and safety system of Indian Railways.

Shares of RailTel Corporation of India rose 0.38% to Rs 329.90 on the BSE.

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