This railway company received a great order of 396 crore, competition to buy shares, rocket became stock:

News India Live, Digital Desk: Today was a very happy day for investors of Railway Corporation of India, a railway -linked government company. As soon as the news of two big orders received from Bihar came in the market, its stocks saw a tremendous jump. On Tuesday, the stock of RailTel in the stock market reached the highest level of its day of ₹ 377.25 by jumping more than 6%.

Where did this ‘bumper’ order get?

RailTel got this success from the Bihar government. In the information given to the stock exchange, the company told that it has received two separate orders worth ₹ 396.12 crore from Bihar.

1. Order of Bihar Education Project Council: The first and biggest order has been received from the Bihar Education Project Council (BEPC), which is ₹ 296.24 crore. Under this project, RailTel will install ‘ICT Labs’ in secondary and higher secondary government schools of the state. These labs include teaching equipment, such as supply of computers and other hardware and installing them.
2. Order of beltron: The second order has been received from Bihar State Electronics Development Corporation (Beltron), which costs ₹ 99.88 crore. Under this project, RailTel will provide MPLS-VPN connectivity (a kind of safe and fast internet service) in 44 government offices and departments of the state.

Silver of investors

This news is a very positive news for RailTel, which shows the company’s strong order book and future development prospects. This is the reason why investors showed fierce trust in this stock. In the last six months, this stock has given multibagger returns of more than 100% to its investors.

What does RailTel do?

RailTel is a ‘Miniratna’ company of Indian Railways, one of the country’s largest neutral telecom infrastructure provider. The company has a huge network of optical fiber cable along the banks of railway lines. Apart from providing communication services to the railways, it also provides services like broadband and VPN to common people and companies across the country.

This new order is expected to strengthen the financial position of the company, which can also be seen on its shares in the coming time.