RailTel Corporation of India shares closed higher on Monday after the telecom infrastructure provider announced that it had bagged a  Rs 294 crore work order from Tamil Nadu State Marketing Corporation Ltd (TASMAC).

The work order relates to implementing an integrated solution enabling end-to-end computerisation and connectivity of core and support functions of TASMAC for five years. 

The nature of the work order is an ‘open tender’, and the contract is required to be executed within five years. The total worth of the project is Rs 294.37 crore.

Shares of RailTel surged as much as 1.9% during the trading hours on Monday to touch an intraday high of Rs 129.90. The stock ended 0.9% higher at Rs 128.60.

In March this year, the company won a Rs 34.91 crore contract from the Madhya Pradesh State Electronics Development Corporation to expand and set up data centres.

In April, it received a Rs 38.95 crore work order from National Informatics Centre Services Inc (NICSI) for Point-to-Point lease line connectivity to 19 immigration centres nationwide.