RailTel shares surge 10% amid bagging Rs 79 crore order from MHADA
The contract is for the selection of a service provider (Cloud Hosting and Managed Services) to set up, migrate, and manage the Data Centre (DC) and Disaster Recovery (DR) site for MHADA on the Cloud.
RailTel shares surge 10% amid bagging Rs 79 crore order from MHADA
New Delhi: The Shares of RailTel Corporation of India surged nearly 10% on Tuesday to the day's high of Rs 449 on the BSE after receiving a work order from the Maharashtra Housing and Area Development Authority (MHADA) for projects amounting to Rs 79.84 crore.
“This is to inform that RailTel Corporation of India Ltd. ("the Company") has received the work order from Maharashtra Housing And Area Development Authority for Other Project amounting to Rs. 79,84,01,751 (Including Tax),” according to the exchange filing made.
The contract is for the selection of a service provider (Cloud Hosting and Managed Services) to set up, migrate, and manage the Data Centre (DC) and Disaster Recovery (DR) site for MHADA on the Cloud. The order is to be executed by January 15, 2025, and is based solely in India.
Read Also : PFC Infra Finance IFSC Limited to commence operations – Receives approval from IFSCAEarlier, RailTel Corporation of India received an order from the Rural Development Department worth Rs 155 crore. This work order, from the Rural Development Department, Mantralaya, Maharashtra, is for the operationalization of the ASSK-GP project in the Konkan, Pune, and Nashik regions, and is expected to be executed by September 25, 2025.
The Mini Ratna company reported a net profit of Rs 49 crore for the quarter ended June 2024, up from Rs 38 crore in the year-ago period, marking an uptick of 27% on a year-on-year (YoY) basis. However, on a sequential basis, this represents a 37% decline from the Rs 77 crore reported in Q4 FY24.
News Must Read
- RailTel shares surge 10% amid bagging Rs 79 crore order from MHADA
- Larsen & Toubro Wins Order for Agra Metro Network
- Noida airport completes calibration flight to test navigation system
- RBI imposes monetary penalty on SG Finserve limited
- RECPDCL Hands Over Rajasthan-IV H-1 Power Transmission Limited to PowerGrid
- PFC Consulting Limited Signs MoU with Central Electricity Authority
- DG Paramesh Sivamani takes over as 26th Director General of Indian Coast Guard
- BEML Ltd receives order of Integral Coach Factory High-Speed Rail Design and Manufacturing
- RBI approves Partha Pratim Sengupta as MD and CEO of Bandhan Bank
- Hindustan Aeronautics gets status of 14th 'Maharatna' PSU