RailTel announces final dividend for FY24 at Rs 1.85/share

RailTel Corporation of India's board of directors on Monday recommended a final dividend at Rs 1.85 per equity share for the financial year 2023-24.

This final dividend is in addition to the interim dividend of Rs 1 per share already paid by the company for the financial year 2023-24.

The final dividend will be subject to the approval of shareholders in the ensuing Annual General Meeting (AGM) and will be paid within 30 days from the date of its declaration at the AGM.


The decision was taken at the board meeting held today and the announcement was made after market hours.

The stock today hit a fresh 52 week high of Rs 559.40 on the NSE before ending the session at Rs 532.80 one the NSE, up by Rs 13.05 or 2.51% over the Friday closing price.

Like many of its peers in the railway sector, RailTel shares have delivered multibagger returns of more than 300% over the past 12 months. This is a significant outperformance over Nifty which has yielded returns of 25% in the same period. In the year-to-date period, the returns are to the tune of 51%.

The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 419 and 347, respectively. According to Trendlyne, the stock is trading in an overbought zone with RSI hovering around 72 while MFI near 82. A number above 70 is considered to be overbought while a number below 30 is seen to be oversold.

While the stock has been in top form, it has traded with very high volatility. Its 1-year beta is 1.2, Trendlyne data said.

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