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Railtel shares surge over 7%, hit fresh 52-week high. Here's why

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

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RailTel Corporation rises for third day; stock up 85% over issue price

Shares of RailTel Corporation of India surged for the third straight day on Tuesday to hit a fresh 52-week high on the BSE amid strong investor interest on the counter. The shares of the firm which got listed on Friday, have zoomed nearly 85 per cent over its issue price of Rs 94.
The scrip jumped 19 per cent over its previous close to hit an intra-day high, also its 52-week high, of Rs 173.50 on the BSE. At 11.40 am, the stock was trading 16 per cent up at Rs 168.60 while the BSE barometer Sensex was up 0.41 per cent at 50,054 around the same time.
The trading volume on the counter was high with a combined 34 million shares having changed hands on the NSE and BSE so far.

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RailTel makes a decent debut — shares list on bourses at 16% premium

RailTel makes a decent debut — shares list on bourses at 16% premium
Navdeep YadavFeb 26, 2021, 10:12 IST
BCCL
The shares of RailTel listed at about 16% higher at ₹109 apiece, compared to the IPO issue price of ₹93-94 per share.
Within minutes after listing, the shares of RailTel gained 7% of their value and were trading at ₹111.7 apiece at 10:05 am in an otherwise tepid market.
The listing is also in line with analysts expectations — which predicted listing gains above 15%.
Check out the latest news and updates on Business Insider.The ₹819 crore ($112 million) initial public offering (IPO) of state-run RailTel Corp made a decent debut after a tremendous investor response. The shares of RailTel listed at about 16% higher at ₹109 apiece, compared to the IPO issue price of ₹93-94 per share.

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