RITES surges 19% in 1 week on Rs 160 crore order win from Sri Lanka

The company has signed contract with Sri Lanka government for supply of two additional fully air-conditioned Diesel Multiple Unit (DMU) train sets.

Shares of RITES hit a new high of Rs 280, up 5 per cent on Thursday, surging 19 per cent in one week after the company signed Rs 160 crore contract with Sri Lanka government for supply of two additional fully air-conditioned Diesel Multiple Unit (DMU) train sets.

The stock of state-owned construction & engineering company was trading at its highest level since listing on July, 2018.

“RITES has signed the contract for supply of two additional fully air-conditioned Diesel Multiple Unit train sets, for USD 22.4 million (Rs 160 crore) with the Ministry of Transport and Civil