The contract was valued at $18 Million. The company said that it expects to execute the contract within a period of 6-8 months from the receipt of advance.
Here are some of the stocks that may see significant price movement today: Tata Motors, TVS Motors, Zydus Lifesciences, etc.
RITES confirmed that the deal is a domestic contract and does not involve any international arrangement or related-party transactions.
RITES also declared a first interim dividend of ₹1.30 per share for FY26, with August 12 set as the record date.
The MoU is set to fast-track inclusive growth, future-ready development, harnessing the strengths of each entity to resolve pressing development problems.
The project will be executed at BEL’s Palasamudram unit in Andhra Pradesh and is expected to be completed over 24 months.
The contract was awarded by the Department of Collegiate and Technical Education (DCTE), Bengaluru, under the centrally sponsored PM USHA Scheme.
BSE Analytics stated that RITES have given multibagger returns, gaining over 152.32% in the past three years.
The board also recommended a final dividend of ₹2.65 per share for FY25.
The two public sector firms plan to explore ways to work together on setting up a steady, secure supply chain for metals and minerals, including those considered critical to the country’s long-term needs.
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