Shares of Railtel Corporation of India jumped on Friday after the firm won a large contract from the Jammu Smart City project to create and operate a data centre and a command control centre.
What Happened: Railtel said in an exchange filing that it had received a work order for the design, supply, installation, testing, commissioning and operations and the maintenance of data centre and disaster recovery centre for an integrated command and control centre (ICCC) for Jammu Smart City.
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The total contract value of the work order is ₹67.95 crore, which includes goods and services tax (GST). The contract’s duration stands at three years while it has to be implemented within nine months.
Price Action: Railtel Corporation of India’s share price shot up 2.43% to ₹219.40 around noon on Friday. The railway stock has gained nearly 110% in the last six months as railway stocks have been booming recently.
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