Hot Pursuit     06-Oct-23
RailTel Corp edges higher after bagging contract from Jammu Smart City
RailTel Corporation of India advanced 1.45% to Rs 217.20 after the company announced that it has received a work order from Jammu Smart City worth Rs 67.95 crore.

The contract involves design, supply, installation, testing, commissioning and operations and maintenance of Data Centre and Disaster Recovery Centre for Integrated Command and Control Centre (ICCC) for Jammu Smart City.

The contract implementation timeline is nine months and the contract duration is thirty-six months.

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. As on 30 June 2023, the Government of India held 72.84% stake in the company.

The public sector enterprise reported 48.51% jump in consolidated net profit to Rs 38.39 crore on 24.08% rise in revenue from operations to Rs 467.61 crore in Q1 FY24 over Q1 FY23.

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