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RITES emerges successful bidder for supply of locomotives

Capital Market 

RITES said that the company has emerged as a successful bidder for supply of Locomotives, Coaches and DEMUs (Diesel electric Multiple Units) to a Cape Gauge country.

In an exchange filing made after market hours on Friday, 14 February 2020, RITES informed that the company has emerged as a successful bidder for supply of Locomotives, Coaches and DEMUs (Diesel electric Multiple Units) to a Cape Gauge country.

RITES has submitted the price bid for the contract amount of around Rs. 680 crore and discussion on contract documents are expected to conclude soon.

These Locomotives, Coaches and DEMUs will be manufactured at production unit of Indian Railways. Company is nominated agency of Indian Railways for such exports.

The stock rose 0.09% to Rs 318.20 yesterday, 14 February 2020.

RITES is a public sector enterprise (PSE) and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The government's stake in RITES stood at 77.39% as on 31 December 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, February 15 2020. 08:30 IST
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