RITES bags orders of nearly Rs750cr from Railways

The company has won the Mysore — Hassan — Manglore incl. Hassan — arsikere with the cost of project is Rs461.23cr (incl fee) and also another project is on Lumding — Badarpur at Rs288.44cr (incl fee), it added.

Jun 28, 2021 02:06 IST India Infoline News Service

RITES
Shares of RITES Ltd soared over 2.6% in the afternoon session as the company has secured two major orders worth Rs749.7cr from the Ministry of Railways.

“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.

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