Railway Stock Jumps 5% After Bagging ₹139 Cr Order

Shares of Railtel continued to make gains for the second straight session as the company bagged a massive order.

What Happened: The railway company on Tuesday evening announced bagging a ₹139.73 crore order from Prasar Bharati Broadcasting Corporation. The order is for the design, development, implementation, operations, and maintenance of an OTT platform.

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The order helped the stock maintain the upward trajectory for the second straight session. The stock has seen a major correction in the last few days along with other railway stocks. In the last five sessions, the stock is down around 12%.

The company has been seeing a consistent inflow of orders. Earlier in the month, the company announced bagging a ₹129 crore order from Western Railways. Last week the company also bagged an order from Defence Ministry worth around ₹18 crore. The company had bagged a ₹35 crore order from RVNL last month.

Price Action: Railtel’s share price was up 4.30% to trade at ₹382.25 shortly after market open on Wednesday.

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