The order secured is from the Government of Kerala for conducting independent quality audit for Kerala Infrastructure Investment Fund Board projects
In an exchange filing made after market hours on Friday, 13 March 2020, RITES informed that the company has secured a consulting work award with fee income of Rs 60 crore.
The order secured is from the Government of Kerala for conducting independent quality audit for Kerala Infrastructure Investment Fund Board (KIIFB) projects.
The period of execution is likely to span over 21 months.
Shares of RITES rose 9.40% to end at Rs 268.25 on Friday, 13 March 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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