 "Railways has already asked steel ministry and SAIL to shift to higher-grade rail in two years")
Shares of RailTel Corporation of India (RailTel) rose 28 per cent during their trading debut on Friday despite a sharp selloff in the market. The stock ended at Rs 120.6, up Rs 26.6, or 28.3 per cent, over its issue price of Rs 94. The stock touched a high of Rs 128 and a low of Rs 101 on the NSE, where over Rs 1,500 crore worth of shares changed hands.
At the closing price, the state-owned telecom infrastructure provider will have market capitalisation of Rs 3,896 crore.
Railtel’s IPO had garnered 42 times subscription and attracted over nearly 2.4
