Rites surges over 7% post $3.6-million Zimbabwe order win

Rites share price surged on Wednesday as it expanded its African order book significantly with the latest Zimbabwe deal.

Rites share price today: Rites share price rose significantly in the last session of the year, as a recent Zimbabwe order fuelled the bulls. The company has received three back-to-back international orders from the African region.

 

Rites' share price rose as much as 7.37 per cent to ₹254.75. The stock has touched a 52-week high of ₹316 on June 5, 2025, and registered a 52-week low of ₹192.40 on March 3, 2025.    

As of 12:21 pm, the stock was quoting around ₹244.85, up 3.19 per cent or ₹7.8, in comparison to a 0.59 per cent gain on the NSE Nifty 50 index. The counter has seen trades of around 8.51 million shares thus far in the day, as against its two-week average volume of 2.38 million shares.

 

 

On a year-to-date basis, Rites stock has declined 16.91 per cent and underperformed the market. In comparison, the Nifty 50 has gained nearly 10 in the same period. 

At current levels, the stock is seen trading around its long-term 200-day moving average, which stands at ₹253.73.      

Why did Rites share price rise today?

 

Rites share price rose on Wednesday as the company announced that it secured a new order from Zimbabwe. The $3.6-million order is from Berhard Development Corporation Limited, and as a part of the order, Rites will supply in-service cape gauge diesel electric locomotives. 

 

Rites will take three months to execute the supply order, the company said in an exchange filing.

 

Notably, so far in December, Rites has fetched three international orders from the African region. Earlier in the month, the company reported that it received an order worth $35.2 million from Ndmala Capital in South Africa.

 

Rites also signed a Memorandum of Understanding (MoU) with the government of Botswana under the representation of the Ministry of Transport and Infrastructure to collaborate on the development and modernisation of transport infrastructure in the South African country. 

 

Rites is a Navratna public-sector enterprise (PSE) in the transport consultancy and engineering sector in India. The company has diversified services and geographical reach.