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The stock rose 4.96% to Rs 290.85 following the announcement. The order involves an extension of RailTel’s Infrastructure-as-a-Service (IaaS) engagement with EPFO.

According to the company’s regulatory filing, the domestic order is valued at Rs 166.80 crore, including taxes. The work order involves an extension for one year, along with additional components, and is scheduled for execution up to February 9, 2027.

The fresh order adds to RailTel’s business visibility and strengthens its ongoing engagement with a key government institution. The company’s ability to secure extensions and additional components in existing projects could further support its order book and revenue visibility.

RailTel share price, valuation and technical outlook

Following Wednesday’s rally, RailTel’s market capitalisation stood at around Rs 8,895 crore, while the stock remains well below its 52-week high of Rs 412.90.

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On the valuation front, RailTel Corporation currently trades at a price-to-earnings (P/E) ratio of 25.71 and a price-to-book (P/B) ratio of 3.93.
However, technical indicators continue to point to weakness. The stock’s 14-day RSI stands at 32.5. An RSI below 30 generally indicates oversold conditions, while a reading above 70 is typically viewed as overbought.RailTel is also trading below all 8 monitored simple moving averages (SMAs), indicating that the broader technical trend remains bearish despite Wednesday’s sharp gains.

FII holding rises in June quarter

RailTel’s latest shareholding data for the June 2026 quarter showed a modest increase in foreign institutional investor (FII) participation. FII holdings rose from 3.72% to 3.98%, while mutual fund holdings declined from 0.34% to 0.29% during the quarter.

With a sizeable EPFO work order adding to its order visibility, investors will now watch whether the latest positive business development can help RailTel’s stock overcome its prevailing technical weakness.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
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• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
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and our team will come back to you.

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

• Unlimited access to WA’s most trusted business journalism
• Data & Insights — detailed profiles of WA companies, people, projects and deals
• MyBN — a personalised feed based on the companies, people and sectors you follow
• Special publications and industry reports
• Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
• Investors and advisers researching companies, deals and industry trends
• Consultants and professionals staying across sectors relevant to their clients
• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
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We’re happy to help.
Get in touch
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Costco will soon offer Medicare plans to certain members as part of a new, first-of-its-kind health insurance venture. 

The warehouse giant has teamed up with SCAN Health Plan, one of the nation’s largest nonprofit Medicare Advantage plans focused on senior health care, the insurance company announced Tuesday. 

Under the partnership, the companies will launch a “suite of senior-focused” insurance products over the coming years. 

Pending regulatory approval, the suite could include a revamped pharmacy experience, Medflex over-the-counter pharmacy benefits, vision care coverage, audiology or hearing benefits and more. 

COSTCO ADDS HOT FAN FAVORITE TO FOOD COURT MENU AS SHOPPERS DEBATE TASTE AND VALUE

A customer approaches a pharmacy inside a Costco store in Teterboro, New Jersey, on Feb. 28, 2024. (Stephanie Keith/Bloomberg via Getty Images / Getty Images)

The plans will be sold at Costco stores and also made available through insurance agents and websites, according to The Wall Street Journal. 

The companies have not revealed exactly when the plans will become available, as regulatory review and approval are still pending. SCAN currently serves members across 33 counties in California, Arizona, Nevada, Texas, New Mexico and Washington. 

SCAN Health said the initiative was designed to address the “disjointed experience that many seniors face accessing care and services” and will “bring more value and better experience to seniors as they navigate their health insurance.” 

COSTCO MAKES PAYMENT CHANGE THAT COULD SPEED UP CHECKOUT FOR MEMBERS

Customers visit the membership and customer service counter at a Costco store in Florida. (Lindsey Nicholson/UCG/Universal Images Group via Getty Images / Getty Images)

“For the millions of older adults who rely on Medicare Advantage, the future of the program depends on strong partnerships that make healthcare more accessible, more connected and more seamlessly integrated into everyday life,” Dr. Sachin Jain, CEO of SCAN Group and SCAN Health Plan, said in a statement.

 “Older adults want healthcare that is easier to navigate, more responsive to their needs and rooted in organizations they trust. Our expanded partnership with Costco will give us a strong foundation to explore new ways to help people stay healthy and independent while delivering the quality, value, and service both of our organizations are known for.”

Costco CEO Ron Vachris added that the partnership with SCAN serves as an extension of the company’s commitment to providing value to its customers.

“For more than 40 years, Costco has consistently listened to our Members and earned their trust delivering consistent value on essential goods and expanding our health service offerings,” Vachris said in a statement. 

A customer makes a purchase from a Costco pharmacy, Tuesday, May 30, 2006, in Long Island City, New York. (Daniel Acker/Bloomberg via Getty Images)

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“Selecting SCAN as our partner to deliver a better healthcare experience for seniors, is an extension of that commitment. We have developed a shared understanding of what matters most to the seniors we serve. Deepening our partnership allows us to build on that foundation and create value for our Members.”

FOX Business reached out to Scan Health for more information.

Milky Mist shares opened at Rs 190 on the BSE, compared with the previous close of Rs 181.45. Strong buying interest quickly pushed the stock to its daily upper price band and 52-week high of Rs 199.55, marking an intraday gain of 9.98%. The stock recorded a volume-weighted average price of Rs 196.48 and touched a low of Rs 189.85.

With Wednesday’s rally, the stock has now gained 42.5% from its IPO price of Rs 140. On its trading debut on Tuesday, August 18, the stock listed at Rs 165 on the NSE, delivering a listing premium of 17.86%.

The sustained momentum comes after Milky Mist’s blockbuster Rs 1,553 crore public issue. The IPO, which was open from August 11 to August 13, was subscribed 56.12 times overall. It comprised a fresh issue of 10.20 crore equity shares worth Rs 1,428 crore and an offer for sale of 89 lakh shares worth Rs 125 crore. The issue was priced in the range of Rs 133 to Rs 140 per share.

Also Read: BSE shares bounce 2% after 5-session losing streak. Here’s why Jefferies, Nuvama advise caution

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Should you buy, sell or hold Milky Mist shares?

According to Sunny Agrawal, Head of Fundamental Research at SBI Securities, the robust post-listing performance is well supported by Milky Mist’s solid foothold in value-added dairy products. The company holds a 19% market share in the private branded paneer market, a 12% share in cheese across South India, a 5% cheese market share pan-India, and a 13% share in the yoghurt category.
“The company also enjoys industry-leading EBITDA margins and return ratios. The company will repay debt of Rs 497 crore through IPO proceeds, thereby reducing interest outgo going forward. Moreover, an increase in penetration in the non-South market is likely to be one of the growth levers. We expect Milky Mist to trade at a significant premium to its peers,” Agrawal said.Echoing optimism on the operational strength, Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, pointed out that the company’s 33.6% revenue CAGR, expanding margins and nearly 32% return on equity (RoE) support its premium positioning. She noted that Temasek-backed Jongsong Investments invested Rs 482 crore in the pre-IPO round at Rs 139.76 per share for a roughly 5.2% stake, adding confidence to the valuation.

However, Nyati cautioned that at around 85 times FY26 earnings, valuations remain notably higher than the dairy sector average P/E of 52.5 times. While the stock’s long-term business case is strong, she cautioned against chasing the rally at current levels. She advised existing investors to hold with a stop-loss at Rs 150 and look to accumulate more shares on meaningful dips.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

SEOUL — South Korea’s benchmark KOSPI index plunged 398.66 points, or 5.80%, to close at 6,471.17 on Wednesday, its second consecutive day of sharp declines, as a global selloff in semiconductor stocks combined with surging bond yields and renewed Middle East tensions to rattle investors across Asian markets.

The Korea Exchange activated a sell-side sidecar, a mechanism that temporarily suspends program sell orders, at 9:06 a.m. local time after the index tumbled as much as 5.6% within the first minutes of trading. The KOSPI opened at 6,528.77, down 4.96% from the previous session, before losses widened further as the morning progressed, briefly touching 6,430.93 points, a decline of 6.39%, before settling into a range around the 6,400 to 6,500 level for the remainder of the session.

South Korea’s chipmakers bore the brunt of the selling. According to Trading Economics, Samsung Electronics and SK Hynix plunged 7.54% and 9.93%, respectively, tracking steep losses in U.S. semiconductor stocks overnight. Other major names also fell sharply: SK Square dropped 11.54%, Hyundai Motor fell 5.17%, Kia Corporation slid 3.21%, KB Financial Group declined 1.72% and HD Hyundai Heavy Industries dropped 3.06%. By sector, only construction, up 1.84%, and pharmaceuticals, essentially flat with a 0.01% gain, avoided the broad selloff, while utilities and electronics sank 7.68%, manufacturing fell 6.36%, insurance dropped 5.89%, finance declined 4.81%, securities fell 4.6% and distribution dropped 4.45%, according to figures reported by the Asia Business Daily.

Trading volume data underscored a split between retail and institutional sentiment. Foreign investors were net sellers of roughly 3.4883 trillion won, while institutional investors sold a net 1.3244 trillion won. Individual investors, by contrast, were significant net buyers, purchasing a net 4.6368 trillion won worth of shares, suggesting many retail traders viewed the sharp decline as a potential buying opportunity even as larger institutional and foreign players continued pulling back.

The selloff extended across the region. Japan’s Nikkei 225 fell 3.16% to close at 65,326.42 points, marking its own second consecutive day of losses and hitting its lowest closing level in nearly two weeks, according to TradingKey. The regional downturn was driven primarily by a broader global technology selloff, with surging U.S. Treasury yields, which reached multi-year highs, prompting investors to reassess high valuations across the technology sector. Adding to the pressure, escalating tensions in the Middle East pushed crude oil prices higher, stoking inflation concerns and raising fears that central banks might have less room to cut interest rates than markets had previously anticipated.

U.S. President Donald Trump added to the uncertainty Tuesday by stating that the United States was not currently in talks with Iran, a comment that further undercut hopes for a resolution to stalled diplomatic efforts and raised fears of continued disruption to Middle East oil supplies, according to Trading Economics.

Wednesday’s plunge came after an already volatile session Tuesday, during which the KOSPI had briefly surged more than 3% in early trading to reclaim the 7,200 level, before institutional selling dragged the index back down to close at 6,869.83 points, a decline of 1.55% for the day despite the earlier intraday gains. That roller-coaster pattern has become increasingly common for the index throughout 2026, reflecting a market that has repeatedly swung between sharp rallies and equally sharp reversals over the course of the year.

The chip sector’s troubles were not confined to South Korea. According to TradingKey, U.S. memory chipmaker Micron Technology saw its shares plunge more than 7% overnight, with some technical analysts warning of potential further downside risk of as much as 20%, while Japanese flash memory maker Kioxia fell over 10% and Western Digital also posted steep losses, reflecting a broad-based retreat across the global memory chip industry that had otherwise been one of the strongest-performing corners of the market for much of the year.

Despite Wednesday’s sharp losses, the KOSPI remains up substantially over the past year. According to Trading Economics, the index remains 106.74% higher than it was a year ago, even after declining 0.69% over the trailing month, underscoring both the scale of the index’s extraordinary rally throughout 2026 and the severity of the volatility that has periodically interrupted that broader upward trajectory.

Wednesday’s decline adds to a growing tally of significant single-session swings the KOSPI has experienced this year. According to earlier reporting from the Seoul Economic Daily, the index has triggered 18 sell sidecars and seven circuit breakers so far in 2026, a pace of volatility that market analysts have repeatedly linked to concerns over the sustainability of capital spending tied to the broader artificial intelligence boom, alongside heavy concentration risk given that Samsung Electronics and SK Hynix together account for roughly half of the KOSPI’s total market capitalization.

Adding a note of longer-term significance amid the day’s turmoil, reports emerged that SK Hynix had reached a key turning point in its 2026 wage negotiations, which had previously been deadlocked over the formula used to allocate a record employee bonus, according to TradingKey. Separately, the Financial Times reported that Nvidia’s H200 artificial intelligence chips had been approved to enter the mainland Chinese market in small batches, a development that could carry longer-term implications for the broader AI chip supply chain even as markets focused primarily on the day’s steep losses.

With global bond yields continuing to climb and Middle East tensions showing no clear sign of resolution, investors are likely to remain focused in the coming days on whether Wednesday’s sharp selloff represents a short-term correction within an otherwise strong yearlong rally, or the beginning of a more sustained reassessment of the elevated valuations that have characterized semiconductor and technology stocks across both South Korea and global markets throughout much of 2026.