RITES zooms ~7% on locking new deals worth Crores

2 Jul 2025 , 01:01 PM

RITES Ltd witnessed over 7% increase in its share prices in Wednesday trading session after the engineering consultancy firm announced it has secured two new orders. One order is received from Africa and another from Indian Railways.

At around 12.45 PM, RITES was trading 6.07% higher at ₹296, against the previous close of ₹279.05 on NSE. The counter rose to an intraday high of ₹299.80.

In its filing with the exchanges, the company informed that it has bagged an export order from African Rail Company. The order received is for the supply and commissioning of overhauled Cape Gauge ALCO diesel electric locomotives.

The scope of work, as per the company, includes fitting new Cape Gauge bogies, traction motors, control systems, air brake systems, and providing warranty support through a deputed technical team. 

The order value is USD 3.6 Million. The company expects to execute the stated order within nine months.

In another regulatory disclosure, the business said that it inked an Engineering, Procurement and Construction (EPC) agreement for the redeveloping Tumakuru Station under South Western Railway. The scope of this project includes civil works, signal and telecommunication systems and electrical general services.

BSE Analytics stated that RITES have given multibagger returns, gaining over 152.32% in the past three years.

On Wednesday, 26.56 lakh shares of the company changed hands on BSE, aggregating to a transaction value of ₹78.65 Crore. On the NSE, more than 2.13 Crore shares were traded, till 12:30 p.m. 

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