Shares of PSU Navratna RailTel Corporation on Tuesday rose nearly 2 per cent after the company secured a Letter of Intent (LoI) for a major project valued at approximately Rs 216.82 crore.
The stock touched an intraday high of Rs 375.35, a 1.90 per cent gain in the early hours of the trading session. At the last count (11:13 am), the stock was trading at Rs 369.50, inches higher from the previuos close.
The state-owned firm said that it received the LoI from Bihar State Electronics Development Corporation. The contract is for the implementation of the Mukhyamantree Surakshit Sushaasit Shahar (Safe City) project, which is to be completed by August 4, 2030.
Recent order
This development follows RailTel’s earlier announcement on August 1, when it received an advance work order worth Rs 166.38 crore from Bharat Sanchar Nigam Limited (BSNL). The order is scheduled to be completed by July 31, 2028.
Q1FY26 financial performance
In the first quarter of FY26, the Navratna firm reported a 36 per cent year-on-year increase in net profit to Rs 66 crore, up from Rs 49 crore in the same period last year.
Revenue from operations also grew 33 per cent to Rs 744 crore, compared to Rs 558 crore in Q1FY25.
Doonited Affiliated: Syndicate News Hunt
This report has been published as part of an auto-generated syndicated wire feed. Except for the headline, the content has not been modified or edited by Doonited
