Share price of RailTel Corporation edged higher by around one per cent on Thursday, July 8, a day after the central public sector enterprise won an order worth Rs 23.43 crore from Sagar Cable Network. On Thursday, RailTel Corporation opened on the BSE at Rs 145.40, inching to an intra day high of Rs 146.40 and an intra day low of Rs 142, during the trading session today. According to a regulatory filing by the company to exchanges, the work of the particular order involves providing the multicast drop and carry 1.5G capacity at 66 locations for a period of five years.
On the NSE, RailTel Corporation opened at Rs 144.95 and swung to an intra day high of Rs 146.70 and an intra day low of Rs 142, during the session today. It settled 0.46 per cent higher at Rs 143.05 on the NSE. Shares of RailTel Corporation settled 0.56 per cent higher at Rs 143.20 on the BSE.
Incorporated in 2000, RailTel Corporation is a mini ratna (Category-I) central public sector entity. Being one of the largest neutral telecom infrastructure providers in India, it focuses on offering VPN and broadband services. The company has over 55,000 route kilometers of optical fiber cable network. RailTel has connected several railway stations across the Indian Railway network with prepaid WiFi services.
The WiFi services allow passengers to access high-speed internet at stations, and the facility can be availed by anyone with a smartphone and an active connection after an OTP-based verification.
RailTel Corporation's ₹ 819 crore initial public offer (IPO) was an offer for sale, as part of the government's divestment programme. Its public issue was open for subscription for three days between February 15-18.