Rail stock, Railtel shares plunges despite bagging work order worth Rs 37 crore
The significant terms of the order Work Order as System Integrator for Expansion of SDC & establishment of disaster recovery centre.
Rail stock, Railtel shares plunges despite bagging work order worth Rs 37 crore
Navratna PSU Stock, Railtel Corporation Ltd, has announced that it has received a work order from MP State Electronics Development Corporation Ltd, costing Rs 37 crore.
According to the exchange filing made, RailTel Corporation of India Ltd. ("the Company") has received the work order from Madhya Pradesh State Electronics Development Corporation Ltd for Work Order amounting to Rs. 37,18,16,668 (Including Tax). Madhya Pradesh State Electronics Development Corporation Ltd has awarded the contract.
The significant terms of the order Work Order as System Integrator for Expansion of SDC & establishment of disaster recovery centre. The deadline to complete the order is 29 June 2029.
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The shares underperformed its sector by 1.34% after opening with a gap down, indicating a 2.3% loss. The stock has been declining, losing money for two days in a row and dropping 5.98% overall during this time. It dropped by 4.18% to a low of Rs 285.5 during the day.
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