Railtel Wins ₹165 Cr Western Coalfields Order Amidst Stock Dip
By Business Desk
Railtel secures a ₹165 crore MPLS VPN network order from Western Coalfields, despite recent share price decline. Read more on market performance and recent wins.
Railtel Corporation of India Limited announced a substantial order win worth Rs 165 crore from Western Coalfields on Thursday, August 20. This contract is specifically for establishing a Multiprotocol Label Switching (MPLS) VPN network.
The state-owned company has set a completion deadline of September 21, 2031, for this significant infrastructure project.
Market Reaction and Share Performance
Despite the new order, Railtel’s shares closed 2.26% lower at Rs 280.75 after Thursday’s trading session. This decline occurred even as the broader Nifty 50 index registered a 0.64% increase.
- Year-to-date drop: 24.19%
- Last 12 months decline: 21.76%
Recent Order Momentum
This latest win adds to a series of significant contracts recently secured by Railtel. The company previously obtained a Rs 166.80 crore order from the Employees Provident Fund Organisation (EPFO).
That particular announcement led to a 7.4% jump in its shares at the time. In the preceding week, Railtel also received orders totaling Rs 183 crore from other entities.
- From Deendayal Port Authority: Rs 63 crore
- From Department of Posts: Rs 119 crore