RailTel Shares Surge 40% in April, Reach Two-Month High
RailTel shares extend winning run to fourth session, hit two-month high; surge 40% in April
Mint
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RailTel Corporation of India, a state-owned telecommunications company, saw its shares climb 40% in April, hitting a two-month high of ₹353 on April 16. This surge follows significant order wins, including a ₹564.54 crore contract for integrated tunnel communication systems, despite a recent work order withdrawal.
- 01RailTel shares gained 40% in April, reaching ₹353 apiece.
- 02The stock has seen a cumulative increase of 25.31% over four days.
- 03Recent order wins include contracts worth ₹564.54 crore and ₹43.96 crore.
- 04Despite recent gains, the stock is still down 46% from its July 2024 peak.
- 05Net profit fell 4.07% year-on-year, while revenue increased by 18.99%.
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RailTel Corporation of India, a major telecommunications provider, has experienced a significant rise in its share price, gaining 40% in April and reaching a two-month high of ₹353 on April 16. The stock's upward trend has been bolstered by improved sentiment in the railway sector and substantial order wins, including two Letters of Acceptance from RVNL for integrated tunnel communication systems valued at ₹564.54 crore and a ₹43.96 crore contract from the Uttar Pradesh Police Recruitment and Promotion Board for security services during recruitment exams. Despite these gains, RailTel's stock is still trading 46% below its record high of ₹617.80 reached in July 2024. Financially, the company's standalone net profit decreased by 4.07% to ₹62.40 crore for Q3 FY26 compared to the previous year, while revenue from operations rose by 18.99% to ₹913.45 crore.
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The rise in RailTel's stock price may enhance investor confidence and financial stability for the company, potentially leading to more investment in telecommunications infrastructure.
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