RailTel Corporation of India gains on inking agreement with Wadhwa Group
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Railtel Corporation Of India is currently trading at Rs. 93.55, up by 0.10 points or 0.11% from its previous closing of Rs. 93.45 on the BSE.
The scrip opened at Rs. 94.00 and has touched a high and low of Rs. 94.40 and Rs. 93.15 respectively. So far 13048 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 153.90 on 20-Sep-2021 and a 52 week low of Rs. 84.00 on 31-Mar-2022.
Last one week high and low of the scrip stood at Rs. 97.65 and Rs. 93.00 respectively. The current market cap of the company is Rs. 2997.56 crore.
The promoters holding in the company stood at 72.84%, while Institutions and Non-Institutions held 4.42% and 22.73% respectively.
RailTel Corporation of India has entered into the agreement with the Wadhwa Group, one of India’s leading real estate development companies and a prominent realty player in Mumbai for developing Broadband Internet infrastructure for internet & DTH/Cable TV at their Wadhwa Wise City, Panvel, Navi Mumbai.
Under the agreement, Railtel will invest to plan, design & create a state-of-the-art wired infrastructure capable of delivering high-speed Broadband, Linear Cable TV services, and other Value Added Services (VAS) at Wadhwa Wise City, a Smart City project developed by The Wadhwa Group. Wadhwa Wise City is an integrated township project spread across 138 acres.
It is also first of its kind agreements by RailTel with a private reality developer to develop this kind of infrastructure. RailTel will build the entire end-to-end infrastructure and will have the exclusive rights to lay the wired and wireless infrastructure for a period of 10 years within the Smart Township. RailTel will provide Broadband Internet Services under its brand name of “Railwire”.
RailTel Corporation a ‘Mini Ratna (Category-I)’ PSU is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network on exclusive Right of Way (ROW) along Railway track. The company provides broadband telecom and multimedia network across the country.
