RailTel Corporation of India shares gained attention on September 30, 2024, after the company secured a significant order worth ₹134.46 crore. The stock rose by 1.40%, closing at ₹467.75 on Friday compared to its previous closing price of ₹461.30 on the Bombay Stock Exchange (BSE). This surge pushed RailTel's market capitalisation to ₹15,011 crore.
Approximately 1.60 lakh shares were traded during the day, resulting in a turnover of ₹7.51 crore. For those involved in share market investment, RailTel has certainly become a stock worth monitoring.
RailTel’s impressive multi-year performance
Investors focused on share market investment would be interested to know that RailTel has shown impressive growth in the past two years. The stock has surged 110% over the last year and a remarkable 342% over the last two years.
RailTel hit a 52-week low of ₹200.30 on October 9, 2023, but reached a record high of ₹618 on July 12, 2024. For long-term investors, this multibagger stock continues to be a noteworthy consideration in share market investment portfolios.
RailTel’s volatility and technical indicators
For those analysing stocks for share market investment, it’s crucial to consider RailTel’s volatility. The stock has a one-year beta of 1.4, indicating high volatility in comparison to the broader market. Despite this, the company’s Relative Strength Index (RSI) stands at 47.7, suggesting the stock is neither overbought nor oversold, making it a balanced choice for risk-tolerant investors.
Major new order adds to RailTel's momentum
RailTel Corporation recently announced the receipt of a significant order from Adani Connex Private Limited, valued at ₹134.46 crore. This is the fifth major order the company has secured in September, further reinforcing its position as a key player in India's telecom infrastructure sector. For those interested in share market investment, RailTel's ability to continuously secure large contracts adds another layer of confidence in the stock’s future potential.
RailTel’s role in India’s telecom sector
As a Navratna public sector unit (PSU), RailTel holds a prominent position in India’s telecom industry. The company boasts one of the largest neutral telecom infrastructures in the country, managing a vast optic fibre network with exclusive right-of-way along railway tracks. Its services span across telecom and project work, positioning it as a strong contender for long-term share market investment opportunities.
Why now is the right time to consider RailTel for your share market investment
RailTel's recent performance in the stock market, combined with its steady influx of new contracts, positions the company as an attractive option for those involved in share market investment. With its significant growth over the past two years and continued expansion in the telecom sector, RailTel is a stock to keep an eye on for future growth potential.
For android only