RITES secures new order worth Rs92.70 crore from GMRC; stock soars ~2.5%

7 Sep 2022 , 01:12 PM

RITES Limited informed that it has received new business order. The order received is for Appointment as General Engineering Consultant for Ahmedabad Metro Rail Project, Phase-ll.

Under this contract, RITES will be the lead member of the consortium, holding a 45% stake in the consortium.

The price of RITES’ share of the contract has been estimated as Rs92.70 crore.

The company has received this order from Gujarat Metro Rail Corporation (GMRC) Limited.

RITES is a leading transport consultancy and engineering player in India, with a unique geographic reach and variety of services in sectors such as railroads, highways, urban engineering (metros) & sustainability, airports, ports, ropeways, institutional buildings, and so on.

At around 1.15 PM, Rites was trading at Rs306.70 up by 2.54% from its previous closing of Rs299.10 on the BSE. The scrip touched intraday high and low of Rs307 and Rs298.10 respectively.

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