Railtel Secures ₹139.73 Crore Order from Prasar Bharati, Shares Surge

Railtel (NS:RAIT) continues its upward trajectory for the second consecutive session, buoyed by the announcement of a significant contract win. The railway company secured a substantial order worth ₹139.73 crore from Prasar Bharati Broadcasting Corporation for the development and maintenance of an OTT platform. This positive development comes on the heels of a recent correction in the stock and underscores Railtel's ongoing momentum in securing new projects.

Key Highlights:

• Railtel announced on Tuesday evening that it has bagged a lucrative ₹139.73 crore order from Prasar Bharati Broadcasting Corporation.

• The scope of the contract includes the design, development, implementation, operations, and maintenance of an Over-the-Top (OTT) platform, reflecting Railtel's expertise in digital infrastructure and technology solutions.

• The announcement provided a boost to Railtel's stock, maintaining its upward trajectory for the second consecutive session.

• Despite a recent downturn in the stock along with other railway companies, Railtel has demonstrated resilience, with consistent inflows of new orders contributing to its growth momentum.

• Notably, Railtel had previously secured a ₹129 crore order from Western Railways earlier in the month and an order worth approximately ₹18 crore from the Defence Ministry last week. Additionally, the company had secured a ₹35 crore order from RVNL the previous month, further highlighting its success in securing diverse projects.

Price Action:

• Railtel's share price surged by 4.30% to ₹382.25 shortly after market open on Wednesday, reflecting investor optimism following the announcement of the significant order from Prasar Bharati Broadcasting Corporation.

Railtel's latest contract win underscores its position as a leading provider of digital infrastructure solutions and technology services in the railway sector. With a strong track record of project execution and consistent business growth, Railtel is poised to capitalize on emerging opportunities in the digital landscape.