RailTel on Thursday, October 24, said it has bagged an order worth ₹144.88 crore from the Gujarat government’s home dpartment
The contract is to supply installation commissioning and operations maintenance of CCTV video surveilance system at various branches of LCB SoG cyber police station and LIB and police stations for Cluster 1, 2 and 3, the company said.
The order is to be executed by May 21, 2024.
On another note, last month, Railtel bagged an order worth ₹48.7 crore from the Health Insurance TPA of India Ltd.
The order is for the integrated claims management solution portal and mobile application. It is expected to be completed by June 14, 2030.
On August 30, the Narendra Modi government granted ‘navratna status’to RailTel Corporation of Inida, making it the 22nd ‘Navratna’. The Indian government ccords the navratna status to top-tier public sector undertakings (PSUs). This status allows the organisations to undertake substantial investments of up to ₹1,000 crore without needing approval from the Centre.
These companies have the liberty to invest up to 30% of their net worth within a year, as long as it stays below ₹1,000 crore. They can also engage in joint ventures, form alliances, and establish subsidiaries abroad.
For a company to be accorded navratna status, it should already hold the miniratna category I status and be listed under Schedule A of CPSEs.
Railtel shares were trading 3.18% higher at 409.35 apiece at 9.30 am on Thursday, October 24. The stock has gained 15.93% this year, so far.
Content retrieved from: https://www.cnbctv18.com/market/railtel-share-price-gains-bags-order-worth-gujarat-government-cctv-video-surveillance-systems-19498085.htm.
