RailTel Corporation of India Shares Surge

RailTel Corporation of India shares experienced a significant surge, jumping 9.6% to an intraday high of Rs 339.50 on the BSE on Monday, March 24. This remarkable increase came after the company announced it had secured a Rs 25.15 crore work order from Hindustan Petroleum Corporation Ltd (HPCL).

Contract Details

In a regulatory filing, RailTel Corporation revealed the specifics of the contract, which involves providing Multi-Protocol Label Switching/Internet Leased Line (MPLS/ILL) services over a five-year period. This rate contract is for renewing existing MPLS/ILL links and adding new connections as needed, based on feasibility, with the project timeline set from April 1, 2025, to March 31, 2030.

Stock Performance Overview

Despite the recent positive movement, RailTel shares have seen a decline over the past year, with a 6.47% drop. Year-to-date, the stock is down by 16.80%, and over the past six months, it has decreased by 27.39%. However, the past month has shown a promising 9.22% increase in share value.

Technical Performance Insights

The stock currently trades above its short- and medium-term exponential moving averages for 10, 20, and 50 days but remains below its long-term moving averages. The Relative Strength Index (RSI) is around 52, indicating a neutral momentum in the market.