Railtel, the railway company, made headlines on Tuesday by securing a substantial ₹139.73 crore order from Prasar Bharati Broadcasting Corporation. This order encompasses the entire process, from design and development to implementation, operations, and maintenance of an OTT platform.
The positive impact of this announcement was evident in the stock’s performance, sustaining its upward momentum for the second consecutive session. Notably, the stock had undergone a significant correction in recent days, in line with other railway stocks, experiencing a roughly 12% decline over the last five sessions.
Railtel has been consistently winning orders, indicating a robust business outlook. Earlier this month, the company revealed a ₹129 crore order from Western Railways, followed by an order from the Defence Ministry worth approximately ₹18 crore last week. Notably, the company had also secured a ₹35 crore order from RVNL just last month.
As a result of this positive development, Railtel’s share price surged by 4.30%, reaching ₹382.25 shortly after the market opened on Wednesday. The recent string of orders and the recovery in stock price showcase the company’s resilience and continued growth in a dynamic market.