This Article is From Jun 29, 2021

RITES Bags Orders From Railways; Stock Registers Marginal Gains

RITES will be undertaking Rs 461.23 crore railway electrification work on the Mysore - Hassan - Mangalore railway route and project work between Lumding and Badarpur, worth Rs 288.44 crore

RITES Bags Orders From Railways; Stock Registers Marginal Gains

At 11:00 am, RITES shares were trading higher by 0.5 per cent at Rs 278 on the BSE

RITES (Rail India Technical and Economic Services) has bagged two major railway electrification orders from Ministry of Railways and a consultancy assignment from Metro Express Mauritius, the company said in separate regulatory filings to the stock exchanges.

RITES will be undertaking railway electrification work on the Mysore - Hassan - Mangalore railway route, amounting to Rs 461.23 crore. It will also be executing work between Lumding and Badarpur, worth Rs 288.44 crore.

And Metro Express, Mauritius has awarded RITES additional consultancy services work for extension of the mainline from Rose Hill to Reduit through Ebene for a fee of MUR 250 million or Rs 45 crore approximately.

RITES is a Miniratna public sector enterprise and a leading player in the transport consultancy and engineering sector in the country.

At 11:00 am, RITES shares were trading higher by 0.5 per cent at Rs 278 on the BSE as against a 0.3 per cent decline in the benchmark indices.

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