RITES Ltd receives its highest-ever order

RITES Ltd. (NSE: RITES, BSE: 541556), the leading Transport Infrastructure Consultancy and Engineering company, secured its highest-ever work order for railway track works from the Ministry of Railways.

This turnkey order includes the three new line projects - Belgam-Dharwad via Kittur, Shimoga-Shikaripura-Ranebennur and Tumkur-Devangree via Chitradurga, with a total cost of Rs. 4027 crore. RITES is currently executing doubling project at Gooty-Dharmavaram and 3 rd line project at Annupur-Pendra Road of approx. 140 km, which are near completion.

Commenting on this order, Mr. V. G. Suresh Kumar, Chairman & Managing Director (Addl Charge), RITES Limited, said, "We are happy to have secured RITES' highest-ever order. This new order testament to our project delivering capabilities and expertise in undertaking mega infrastructure projects. It also demonstrates our efforts to consolidate our order book amid the challenging business environment."

Shares of RITES Limited was last trading in BSE at Rs. 267.95 as compared to the previous close of Rs. 265.4. The total number of shares traded during the day was 101934 in over 3448 trades.

The stock hit an intraday high of Rs. 286.6 and intraday low of 265.5. The net turnover during the day was Rs. 28094708.

Source : Equity Bulls

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