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MSTC is majorly owned by the central government and has an excellent track record of successfully conducting fair and transparent auctions for government bodies in India, Monarch said.
In a fervent market rally, the Indian markets reached new peaks, propelled by the performance of IT giants. The IT sector, showing early signs of recovery, particularly in the Banking, Financial Services, and Insurance (BFSI) segment, has significantly influenced market sentiments. The belief in an improved outlook for BFSI in FY24-25 was a key driver behind the soaring performance of IT heavyweights on Friday.
On Tuesday, despite the opening sharply higher, following a strong US rally, Nifty and Sensex sold off in the afternoon. On the Bombay Stock Exchange (BSE) 2241 stocks advanced, 1606 declined and 97 remained unchanged, with an advance decline ratio of 1.39, indicating positive closing of stocks in broader markets.
Multibagger stock: RailTel shares rose to a high of Rs 363.80 on BSE against the previous close of Rs 352.90 on BSE. Market cap of the firm climbed to Rs 11,505 crore.
Railtel Share Price: This multibagger counter has given returns of over 180% in 2023, significantly outperforming the Nifty which has delivered an impressive 19% returns over a one-year period