Shares of RailTel Corporation of India gained over 8 percent on Monday after the company announced receipt of a work order worth Rs 153.15 crore from Central Coalfields.
In a regulatory filing, the company said that it received a work order amounting to Rs 153.15 crore (including GST) from M/s Central Coalfields Limited, for the establishment of MPLS-VPN Network of higher Bandwidth on a rental basis for 5 years.
The stock price jumped as much as 8.23 percent to an intraday high of Rs 141.30 apiece on the BSE.
RailTel Corporation shares made a strong debut on the exchanges on February 26 with the stock listing with a premium of 15.96 percent to the issue price. It jumped 29.15 percent to close at Rs 121.40 on the BSE that day after hitting an intraday high of Rs 125.50.
Since listing, the stock price has gained over 29 percent and is up over 50 percent from the issue price.
RailTel is a Mini Ratna central public sector enterprise and is one of the largest neutral telecom infrastructure providers in India.
The company had raised about Rs 819 crore through the initial public offering (IPO) which was open for subscription from February 16-18 and was subscribed 42.39 times.
At 12:45 pm, the shares of RailTel Corporation were trading 4.56 percent higher at Rs 136.50 apiece on the BSE as compared to a 1.02 percent fall on the benchmark Sensex.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM