Shares of Railtel were down over 1% on Thursday after the company said it bagged multiple orders from the Bangalore Metro Rail Corporation on Wednesday.

What Happened: The public sector firm received two orders totalling to ₹137crore from Bangalore Metro, the company said in a press release.

The first order, worth ₹75.02 crore before taxes, involves the supply, installation, testing and commissioning of IT network infrastructure. This project involves setting up the necessary IT network components at various metro stations and depots for specific lines. The order is expected to be completed by February 2025.

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The second work order involves the upgradation and annual maintenance of CCTV systems on one of the lines line. The total value of this order is ₹67 crore. The second order is also expected to be completed by February 2025.

Last month, the “Navratna” company won a work order from the Maharashtra administration. The order, worth ₹155.71 crore, pertained to the operationalising of ASSK-GP project in Konkan, Pune and Nashik.

The Department of Public Enterprises, Ministry of Finance granted the company a “Navratna” status in August, allowing the company higher financial and operational autonomy.  It also lets the company invest up to ₹1,000 crore without central approval and invest up to 30% of its net worth annually. 

Price Action: Railtel was trading 1.13% lower at ₹448.85 on Thursday morning.

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