Railtel Corporation gains 3% on bagging ₹36-crore order from CDAC
Upstox
2 min read • Updated: March 26, 2024, 1:17 PM
Summary
Railtel Corporation has received the work order from the Centre For Development of Advanced Computing (C-DAC) for VMWare virtualisation licences with three years of support.
Shares of Railtel Corporation of India Ltd jumped 3% in morning trade on Tuesday after the company announced securing an order worth ₹36.35 crore.
The public sector undertaking (PSU) of Indian Railways has received the work order from the Centre For Development of Advanced Computing (C-DAC) for VMWare virtualisation licences with three years of support, the company said in an exchange filing on March 23.
The contract will be executed by July 19, 2024, Railtel informed the stock exchanges.
The contract involves performance security of 5% of contract Value with validity of 42 Months, Payment of 65% of total order value on supply of licences, 25% on successful completion, 10% of payment after overall acceptance.
Previously, the company bagged an order worth ₹99 crore work order from the State Project Director (Spd) Bihar Education Project Council (Bepc). The order entails supply of student kits (teacher learning material) for classes VI to XII.
The contract shall be executed by June 13, 2024.
In another significant addition to its order book, Railtel Corporation of India bagged a ₹352 crore order from the Municipal Corporation of Greater Mumbai for supply installation, testing, commissioning, operations and maintenance of HMIS for the Health Department of BMC.
The company secured the order through a competitive bid process for the execution and maintenance of this project across the health units of BMC in Mumbai. The contract will be executed by March 14, 2030.
Railtel Corporation of India Ltd share prices have consistently grown over the past year, gaining over 266% during the period.
A Mini Ratna (category-I) company under the Railway Ministry, RailTel Corporation of India Limited is one of the largest neutral telecom infrastructure providers in the country. Railtel owns a pan-India optic fibre network and primarily looks after the telecommunication services for Indian Railways.
Shares of Railtel Corporation were trading 2.26% higher at ₹368.4 apiece on NSE at 12:02 pm.