RailTel shares rise 9.6% after HPCL contract win

RailTel Corporation's shares rose by 9.6% in early trading on March 24, reaching an intraday high of Rs 339.50. This surge follows the announcement of a Rs 25.15 crore contract with Hindustan Petroleum Corporation Ltd (HPCL) for telecommunications services. The contract will last for five years and involves providing Multi-Protocol Label Switching/Internet Leased Line (MPLS/ILL) services. The project is set to run from April 1, 2025, to March 31, 2030. RailTel will renew existing connections and may add new ones based on feasibility. Despite this positive development, RailTel shares have seen a decline of 16.80% year-to-date. The stock has dropped 6.47% over the past year. In the last six months, shares have fallen by 27.39%, and 15.26% in the past three months. However, in the last month, shares have risen 9.22%. As of 2:44 PM, RailTel shares were trading at Rs 328, reflecting a 6.10% increase from its opening price of Rs 318. The stock is currently positioned above its short- and medium-term moving averages but remains below its long-term moving averages. The Relative Strength Index (RSI) is around 52, suggesting neutral momentum.