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Hot Pursuit
04-May-22
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RailTel Corp rallies after securing order from South Western Railway
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RailTel Corporation of India gained 1.87% to Rs 106.45 after the company received work order of Rs 107.44 crore from South Western Railway (SWR).
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The said order is for design, planning, supply, installation, fixing, configuration, integration and commissioning of a secure, reliable, scalable, manageable and converged communication system for more than 230 stations. The company stated that, the entire work is expected to be completed within a period of 12 months.
In a separate exchange filing after the market hours on Monday the company announced that it has received a work order from Madhya Pradesh State Electronics Development Corporation for acting as a system integrator for expansion of SDC and establishment of disaster recovery center. The work order is worth Rs 97.64 crore.
RailTel, a "Mini Ratna (Category-I)" Central Public Sector Enterprise is an information and communications technology (ICT) provider and one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. The Government of India holds 72.84% stake in the company.
The PSU company's consolidated net profit declined 5.24% to Rs 66.01 crore on 1.73% rise in sales to Rs 417.69 crore in Q3 FY22 over Q3 FY21.
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