RITES hits new high on export order win worth Rs 5,670 million

Shares of RITES hit a new high of Rs 284, up 7% on the BSE, extending its Friday's 19% surge, after the company said it secured the export order of $82.63 million (approx Rs 5,670 million).

Shares of RITES hit a new high of Rs 284, up 7% on the BSE, extending its Friday’s 19% surge, after the company said it secured export order of USD 82.63 million (approx Rs 5,670 million).

The stock of railways consultancy firm RITES had closed at Rs 264, its highest level since listing on July 2, 2018. In past six trading sessions, it zoomed 46% from Rs 194, as compared to 2.3% rise in the S&P BSE Sensex.

“The company has secured an export contract for broad gauge passenger air-conditioned and non air-conditioned coaches for a total value