RailTel share price jumps ahead of Q3 results today. Buy, hold, or sell?

  • Q3 results today: The market is expecting robust RailTel results for the third quarter of the current financial year, say experts

Asit Manohar
First Published24 Jan 2024, 10:27 AM IST
RailTel shares are looking positive on the chart pattern and any dip ahead of RailTel Q3 results today should be seen as a buying opportunity, say experts.
RailTel shares are looking positive on the chart pattern and any dip ahead of RailTel Q3 results today should be seen as a buying opportunity, say experts.(Photo: MINT)

Stock market today: RailTel shares have been in an uptrend since early morning deals. RailTel share price today opened flat at 387.25 apiece on NSE and went on to touch an intraday high of 406.50 per share level within a few minutes of the stock market's opening bell. However, the railway PSU stock failed to sustain its intraday high and witnessed profit booking on higher levels.

Also Read: Multibagger penny stock: LIC remains bullish on Integra Essentia Ltd shares during Q3FY24

According to stock market experts, RailTel is going to declare its Q3 results today for the financial year 2023-24. The market is expecting robust third-quarter numbers for the current fiscal and this rally in RailTel shares should be seen from this perspective. They advised investors to maintain the 'buy on dips' strategy and suggested RailTel shareholders hold the PSU stock maintaining a stop-loss at 350 apiece levels.

Also Read: Tech Mahindra Q3 result preview: PAT, revenue to fall YoY

RailTel Q3 results preview

On what the market is expecting from RailTel results in Q3FY24, Parth Shah, Research Analyst at StoxBox said, "Following strong second-quarter performance, Railtel is expected to post robust third-quarter numbers on the back of strong order inflow. The company telecom business is expected to clock mid-single digit growth in revenues, while the low-margin project business is likely to continue with its strong upward trajectory."

Also Read: CCI approves JSW's acquisition of up to 38% stake in MG Motor India

"Following strong second-quarter performance, Railtel is expected to post robust third-quarter numbers on the back of strong order inflow. The company telecom business is expected to clock mid-single digit growth in revenues, while the low-margin project business is likely to continue with its strong upward trajectory," the StoxBox expert said.

RailTel share price target

Expecting more rally in RailTel share price, Sumeet Bagadia, Executive Director at Choice Broking said, “RailTel shares are looking positive on chart pattern and any big dip ahead of the Q3 results today should be seen as a buying opportunity. RailTel shareholders are advised to hold the PSU stock maintaining stop loss at 350 per share levels. RailTel share price may bounce back strongly and touch 440 and 460 levels in the short-term.”

On the suggestion to fresh investors, Sumeet Bagadia said, "Fresh investors can maintain a buy-on-dips strategy maintaining strict stop loss at 350 per share levels for short term target of 440 to 460 per share."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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$5 M

394,000

$112 B

12.1%

₹133.50 Cr

₹12,300 Cr

$136 M

First Published:24 Jan 2024, 10:27 AM IST
HomeMarketsStock MarketsRailTel share price jumps ahead of Q3 results today. Buy, hold, or sell?

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