Quadrant Future Tek (QFTL) has secured a ₹155.93 crore contract from RailTel to supply, install, and set up the Kavach system, an advanced train collision avoidance system. This project will cover 502.2 RKM (route kilometers) of railway tracks and 71 railway stations under the East Central Railway. The project is expected to be completed in 21 months.
The company clarified that this contract does not involve any related party transactions, and neither its promoters nor any associated companies have any stake in the awarding entity.
About Quadrant Future Tek
QFTL manufactures specialty cables used in railways and defense. The company specializes in electron beam irradiated cables, which are known for their fire safety, lightweight design, and durability. It has also expanded into train protection technology, developing an automatic system using radio frequency identification (RFID) to prevent train collisions under the Kavach project, which was designed by the Research Designs & Standards Organisation (RDSO).
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Stock Market Performance
Quadrant Future Tek listed on the stock market on January 14, 2025, at ₹374 per share, which was 28.97% higher than its IPO price of ₹290. The IPO, which closed on January 9, 2025, was highly successful, with a subscription rate of 186.66 times. The IPO price range was ₹275-₹290 per share.
Meanwhile, shares of RailTel Corporation increased 0.15% to ₹518.35 on the BSE.
