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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 rallies 17% on institutional buying, up 52% over issue price

Shares of RailTel Corporation of India (RailTel) rallied 17 per cent to Rs 142.45 on the National Stock Exchange (NSE) in intra-day trade on Monday after the institutional investors bought a stake in the company via open market on its debut day on Friday.
The stock of the state-owned telecom infrastructure provider made a strong debut on the bourses as it got listed at a 28 per cent premium at Rs 120.60. With today’s rally, it has zoomed 52 per cent from its issue price of Rs 94.
On Friday, February 26, Goldman Sachs India Fund and Nippon India Mutual Fund collectively bought 10.7 million equity shares of RailTel worth Rs 120 crore through block deals on the NSE, the exchange data shows.

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