RITES gains after securing major orders from African Railways and Indian Railways

RITES rallied 6.16% to Rs 296.40 after the company announced that it has secured two orders, one from an international entity and another through a domestic joint venture.

The company received a purchase order from African Rail Company for the supply and commissioning of two fully overhauled Cape Gauge ALCO diesel-electric locomotives. These units are set to be deployed in Zimbabwe, Mozambique, and Botswana. Valued at $3.6 million (CIF), the order includes warranty support and deployment of a technical team. It is expected to be completed within nine months.

In a separate agreement, RITES, in partnership with Aryan, got a Letter of Acceptance (LoA) from South Western Railway for redeveloping Tumakuru Railway Station. The Engineering, Procurement, and Construction (EPC) contract covers civil works, signaling and telecommunications, and general electrical services. The order is valued at Rs 37.81 crore, excluding GST, and must be finished within 540 days from the start date.

RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 March 2025, the Government of India held a 72.20% stake in the company.

The company's consolidated net profit rose 5.24% to Rs 132.71 crore despite a 4.32% decline in revenue to Rs 615.43 crore in Q4 FY25 as compared with Q4 FY24.

Powered by Capital Market - Live News