India, Sept. 18 -- Sometimes a stock's chart and its business results tell completely different stories. This is one of those cases. Revenue is up sharply, the order book has never been fuller, and yet the share price is languishing well below where it once traded. That gap between the numbers and the market's mood is worth unpacking, especially with a fresh data centre push now entering the picture.

Railtel Corporation of India Ltd closed at around Rs265, a steep 56% below its all-time high of Rs605. For a company that just reported double-digit revenue growth, that kind of drawdown is unusual, and it's really the starting point for this whole story.

Growth on Paper, But the Market Isn't Buying It Yet RailTel's operating revenue for Q...