Buy Railtel Corporation of India, target price Rs 128: ICICI Securities

ICICI Securities has buy call on Railtel Corporation of India with a target price of Rs 128. The current market price of Railtel Corporation of India is Rs 119.6. ICICI Securities recommended to keep stop loss at Rs 117.

Railtel Corporation of India, incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 3843.24 Crore) operating in Telecommunications sector.

Railtel Corporation of India key Products/Revenue Segments include Telecom Products & Services, Income from Project Development and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 462.17 Crore, up 5.02 % from last quarter Total Income of Rs 440.09 Crore and down -2.53 % from last year same quarter Total Income of Rs 474.15 Crore. Company has reported net profit after tax of Rs 31.95 Crore in latest quarter.

The company’s top management includes Mrs.Aruna Singh, Mr.Sanjai Kumar, Mr.Anand Kumar Singh, Mr.Rakesh Ranjan, Dr.Subhash Sharma, Mr.N Manoharan. Company has Suresh Chandra & Associates as its auditors. As on 31-12-2022, the company has a total of 32 Crore shares outstanding.

Investment Rationale
Breakout above falling channel of four-month corrective decline and above 200 days EMA.

Promoter/FII Holdings
Promoters held 72.84 per cent stake in the company as of 31-Dec-2022, while FIIs owned 1.03 per cent, DIIs 4.19 per cent.