Midcap Railway Stock Bags Order From RVNL, Shares Jump 3%

Shares of Railtel Corporation that were upbeat since the start of trading on Wednesday received a further bump after the company announced bagging the order.

What Happened: The PSU on Wednesday informed the changes that it had received an order from Rail Vikas Nigam Limited. The ₹35 crore order is for data centre hosting & application support services for three years.

The government-owned company further added that the contract is extendable further to one or more years. The PSU stock has had an incredible at the bourses recently. In the last six months, the stock has surged up over 180%.

See Also: Gautam Adani Says ‘Truth Has Prevailed’ After Supreme Court Judgement In Hindenburg Case

Last week, the company announced bagging two major government orders. The first order was from the Bihar Education Project Council worth ₹76.19 crore. The order is for the supply of teaching-learning material for Class I to III. The second order was from the South Central Railway worth around ₹120 crore.

Price Action: Railtel’s share price was up 3.36% to trade at ₹365.85 on Wednesday afternoon.

Read Next: Railway Stock Jumps After Signing ₹35,000-Cr MoU To Finance Projects

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesNewsContractsMarketsMoversTrading IdeasRail Vikas NigamRailtel