“Further to our intimation dated 15" June 2021 about the lowest bid for a tender called by Railway Board, Ministry of Railways for railway electrification work on turnkey basis,” the company said in the filing.
The company has won the Mysore — Hassan — Mangalore incl. Hassan — arsikere with the cost of the project is Rs461.23cr (incl fee) and also another project is on Lumding — Badarpur at Rs288.44cr (incl fee), it added.
Rites Ltd is currently trading at Rs275.30 up by Rs4.8 or 1.77% from its previous closing of Rs270.50 on the BSE. The scrip opened at Rs271 and has touched a high and low of Rs281.40 and Rs269.20 respectively.