Indian Railways News

Indian Railways News

RITES Bags Orders From Railways; Stock Registers Marginal Gains

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 ₹ 461.23 crore. It will also be executing work between Lumding and Badarpur, worth ₹ 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 ₹ 45 crore approximately.

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

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

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