RITES bags $3.6 Million locomotive order from a Zimbabwe entity

31 Dec 2025 , 04:12 PM

RITES Limited announced that it has secured a letter of award for supply of in-service cape gauge diesel electric locomotives. The order has been granted by Berhard Development Corporation (Private) Limited, Zimbabwe.

As per the disclosure made by the company, the order has an expected value of $36,00,000. The company plans to execute the contract within a period of 3 months. The company stated that it has received this order from an international entity. The order has been received from a domestic entity and is not a related party transaction, neither the promoter nor the promoter group have any interest in the company. The transaction is carried entirely at arm’s length.

At around 3.12 PM, RITES was trading 2.45% higher at ₹243.08, against the previous close of ₹237.27 on NSE. The counter touched an intraday high and low of ₹254.75, and ₹240.09, respectively.

Furthermore, the company also informed that earlier in December, it has entered into a memorandum of understanding (MoU) with the government of Botswana for collaborating on the development and modernisation of the country’s railway and transport infrastructure.

The company stated in its exchange filing that with this partnership, it could be able to accelerate the growth of the transport sector in Botswana.

For feedback and suggestions, write to us at [e-mail]