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Shares of RailTel Corporation Of India Ltd rose nearly 5% on Wednesday after the company bagged work order worth ₹287.57 crore.
According to the company's exchange filing, it has received the work order from Centre for Development of Advanced Computing for supply, installation, integration, testing and commissioning of information technology (IT) infrastructure in green field data centres i New Delhi and Bengaluru along with training and support.
The project is anticipated to be finished within 300 days following the work order date.
On the technical front, the stock hit an intraday high of ₹110.05 and low of ₹107.60. The stock's weekly average delivery volume is 46.36%. However, the stock has fallen 27.14% from its 52-week high of ₹148.7 recorded on November 28.
"Short trend is negative for Railtel as the stock has shown correction recently. However, the medium to long term charts indicate good support in the range of 100-105. Investors can look to accumulate on dips in this support range," said Ruchit Jain, lead research, 5paisa.com.
