RailTel Corp races 5% on bagging Rs 287.57-crore contract

The work order from Centre for Development of Advanced Computing is for supply, installation, integration, testing and commissioning of IT infrastructure in green field Data Centre at New Delhi and Bengaluru along with training and support, RailTel Corporation of India said.

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Shares of RailTel Corporation of India climbed 5 percent on March 15 with the company bagging a Rs 287.57-crore order.

The work order from the Centre for Development of Advanced Computing is for supply, installation, integration, testing and commissioning of IT infrastructure in greenfield data centres at New Delhi and Bengaluru along with training and support, the company said in an exchange filing.

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The order has to be executed within 300 days from the date of work order, said Railtel.

At 9:17am, shares of RailTel Corp traded 3.3 percent higher at Rs 108.60 on the BSE.

ICICI Securities has pointed out that Railtel Corp has seen increased competitive intensity in project business, both from government entities and private companies, which has led the company to shift its strategy to chasing volume-based contracts from margin-based ones earlier. This can help in growing absolute Earnings Before Interest and Tax (EBIT) in projects business, the brokerage firm said.

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The brokerage firm pointed out that Railtel has enjoyed advantage in Indian Railways due to exclusive access to railway infrastructure such as Right Of Way (ROW) across tracks of 67k-Rkms, space for setting-up towers etc. However, railway opening infrastructure sharing to private players should increase competition. Though, Railtel believes it is in a strong positon due to existing relationships and lead-time for peers to deploy capex, the brokerage firm noted.