RailTel Shares Experience Volatility Ahead of Q3 Results

RailTel Shares Experience Volatility Ahead of Q3 Results

VoM News Desk | January 24, 2024 | 10:53 AM IST | Breaking News | Follow on Google News

RailTel Shares Experience Volatility Ahead of Q3 Results/Mint_Print

RailTel Shares Experience Volatility Ahead of Q3 Results

RailTel shares exhibited an uptrend in early morning deals, opening flat at ₹387.25 on NSE and reaching an intraday high of ₹406.50. However, profit booking on higher levels led to a decline. Analysts attribute this movement to the anticipation of RailTel’s Q3 results for the fiscal year 2023-24, expecting robust numbers based on strong order inflow.

RailTel Q3 Results Preview

Analyst Parth Shah notes that RailTel is likely to post strong Q3 numbers, driven by a mid-single-digit growth in revenues from its telecom business. The low-margin project business is also expected to continue its upward trajectory, contributing to the overall positive performance.

RailTel Share Price Target and Strategy

Expressing positivity in RailTel’s chart pattern, Sumeet Bagadia suggests that any significant dip ahead of the Q3 results should be viewed as a buying opportunity. He advises existing shareholders to hold the stock with a stop loss at ₹350 per share, anticipating a potential bounce back to ₹440 and ₹460 levels in the short term. For new investors, maintaining a buy-on-dips strategy with a strict stop loss at ₹350 per share is recommended for a short-term target of ₹440 to ₹460 per share.

VoM News Desk

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