This Indian Railways’ Stock Climbs Over 3.5% on Dec 9: Read Details

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This Indian Railways’ Stock Climbs Over 3.5% on Dec 9: Read Details
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the state-owned technical arm of Indian Railways, RailTel Corporation of India Ltd (NS: RAIT ) advanced 3.27% to Rs 123.05 at 11:18 am, after climbing 5% in early trade on Thursday.

The information and communications technology (ICT) provider bagged an order worth Rs 210.77 crore on Thursday, from the railway company Ircon International Ltd (NS: IRCN ), to conduct a series of development on the Dharam-Banihal section of the Jammu Kashmir Rail Link Project, which comes under the Northern Railways.

The order assigned to RailTel consists of designing, supplying, testing, and commissioning the tunnel communication systems of the aforementioned environment, comprising emergency call and service telephone, CCTV, tunnel radio and a Public Announcement System, stated a report.

The project is set to complete in a year. RailTel received a deal of Rs 86.9 crore for constructing an integrated tunnel communication system in Kashmir last month.

The company has reported a whopping 130.85% jump in its PAT to Rs 67.50 crore on a YoY basis, for the September-ending quarter, while its sales figure has zoomed 26.69% YoY to Rs 358.49 crore in this period.

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