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RaiTel shares soar 28% on debut to end a tad over Rs 120 in a tepid market

The stock touched a high of Rs 128 and a low of Rs 101 on the NSE, where over Rs 1,500 crore worth of shares changed hands

Railways has already asked steel ministry and SAIL to shift to higher-grade rail in two years

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Railtel’s IPO had garnered 42 times subscription and attracted over nearly 2.4 million retail applications.

Sundar Sethuraman Mumbai

2 min read Last Updated : Feb 27 2021 | 12:12 AM IST

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Shares of RailTel Corporation of India (RailTel) rose 28 per cent during their trading debut on Friday despite a sharp selloff in the market. The stock ended at Rs 120.6, up Rs 26.6, or 28.3 per cent, over its issue price of Rs 94. The stock touched a high of Rs 128 and a low of Rs 101 on the NSE, where over Rs 1,500 crore worth of shares changed hands.

At the closing price, the state-owned telecom infrastructure provider will have market capitalisation of Rs 3,896 crore.

Railtel’s IPO had garnered 42 times subscription and attracted over nearly 2.4

Topics : Railtel Corporation of India NSE Market sell off Telecom stocks PSU IPO IRFC

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