Share price of RailTel Corporation: At Rs 476.20, the stock ultimately finished 9.62 percent higher. The multibagger scrip has increased 268.86 percent at this price during the previous 12 months.
RailTel Corporation of India Ltd.’s shares jumped 12.80% on Friday, reaching an intraday high of Rs. 490. In the end, the stock finished at Rs 476.20, 9.62 percent higher. The multibagger scrip has increased 268.86 percent at this price during the previous 12 months.
Recently, South Central Railway awarded the rail PSU an order worth Rs 20.22 crore for telecommunications work. “This is to inform that RailTel Corporation has received the work order from South Central Railway for telecommunication works for provision of IP-MPLS in 523RKM of Secunderabad division of South Central Railway amounting to Rs 20,22,05,78,” it wrote in a filing with the BSE.
RailTel stated that the order must be carried out by June 18, 2025.
#NewOrder #RailTel pic.twitter.com/POge7Sm8sv
— RailTel (@RailTel) June 20, 2024
Around 18.46 lakh shares of RailTel’s stock were traded on the BSE today, indicating a high volume of activity. The amount was much more than the 4.10 lakh share two-week average volume. With a market capitalization (m-cap) of Rs 15,283.09 crore, the counter had turnover of Rs 87.50 crore.
The counter may see resistance at the Rs 490 levels, according to a few technical analysts. The next phase of the rally may be determined by a clear close above the mentioned resistance zone. At Rs 465, immediate support is available.
“The stock has encountered resistance near the Rs 490 level, and decisive closing is required for more upmove,” stated Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking. The critical support level will be set at Rs 425.
Anand Rathi Shares and Stock Brokers’ senior manager of technical research analyst, Jigar S. Patel, stated: “Rs 465 and 492 will be the resistance and support levels, respectively. A strong closing over the Rs 492 mark could lead to additional gains towards Rs 530. The anticipated trading range is Rs 435 to Rs 435.
The 5-day, 10-, 20-, 30-, 50-, 100-, 150-, and 200-day simple moving averages (SMAs) were all below the trading value of RailTel’s counter. The relative strength index (RSI) for the stock after 14 days was 67.87. Oversold is defined as a level below 30, and overbought is defined as a value beyond 70.
In comparison to the price-to-book (P/B) ratio of 7.63, the company’s stock has a price-to-equity (P/E) ratio of 56.84. The company reported 7.64 earnings per share (EPS) and 13.42 return on equity.
One of the biggest providers of neutral telecom infrastructure in the nation, RailTel Corp is a Mini Ratna (Category-1) PSU that offers information and communications technology (ICT) and operates a pan-India optic fiber network. The government owned 72.84 percent of the company as of March 2024.
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