Indian ICT provider RailTel Corporation saw its stock rise by 11.47% to ₹243.45 on Friday, marking the company's fourth consecutive gain session. The increase, although slightly lower than the 52-week high of ₹255 on September 11, 2023, signifies a robust rally of 153.07% from its one-year low of ₹96.20 on March 28, 2023.
The recent surge in share prices follows RailTel's acquisition of a ₹67.95 crore (INR100 crore = approx. USD12 million) contract from Jammu Smart City Ltd for a three-year project due in nine months. Despite the recent rally, the scrip's target price stands at ₹143, suggesting potential downside.
The stock's beta of 1.01 over the past year indicates average volatility. Key metrics for the company include a 14-day RSI of 61.51, a P/E ratio of 35.09, and a P/B value of 4.28. Additionally, it is trading higher than its five-day, 10-, 20-, 30-, 50-, 100-, 150- and 200-day SMAs.
As of June 2023, the government holds a significant stake in RailTel Corporation, with ownership standing at approximately 72.84%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.