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RailTel Shares Rally After ₹63 Crore Prasar Bharati Order
RailTel is a government-backed company that provides technology and communication services.
It received a new work order from Prasar Bharati.
The order is worth about ₹63.4 crore.
RailTel will help add features and services to the WAVES online video platform.
This work is expected to continue until February 11, 2029.
After the news, RailTel’s share price rose almost 5% during the day.
However, the company recently lost a separate ₹20 crore order from the Himachal Pradesh government.
RailTel’s shares have fallen this year and over the past year, despite rising over five years.
RailTel Corporation of India shares rose nearly 5% intraday after receiving a ₹63.4 crore order from Prasar Bharati.
The Letter of Intent covers additional features and services for the existing WAVES OTT Platform until February 11, 2029.
RailTel shares were trading 2.75% higher at ₹259.70 on the BSE at 1 p.m. Thursday.
The stock reached an intraday high of ₹265.35 and a low of ₹254.45.
RailTel previously reported cancellation of a ₹20 crore Himachal Pradesh government order due to financial non-viability and unavailable funds.
- Who
- RailTel Corporation of India received the order from Prasar Bharati, through its Director General, Doordarshan.
- What
- A ₹63.4 crore Letter of Intent was issued for additional features and services on the existing WAVES OTT Platform.
- Where
- The share-price movement was reported on the BSE; the order concerns Prasar Bharati’s WAVES OTT Platform.
- When
- The announcement was reported on Thursday, and the contract runs until February 11, 2029.
- Why
- RailTel shares rose after the company disclosed the new order.
Key facts
- Company
- RailTel Corporation of India
- Client
- Prasar Bharati
- Order value
- ₹63.4 crore
- Project
- Additional features and services for the existing WAVES OTT Platform
- Contract end date
- February 11, 2029
- Intraday high
- ₹265.35 per share
- Market performance
- Down 29.9% year to date and about 35% over one year; up 98% over five years
Sources
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