RITES shares rocket 16% on Rs 175 crore consultancy order from Ambedkar University

RITES shares surged 16 percent to Rs 237.05 on the BSE after winning a Rs 175.41 crore project management consultancy order from Babasaheb Bhimrao Ambedkar University. The contract, covering planning, design and development of campus infrastructure, is to be executed over 30 months on a cost plus PMC fee basis. Separately, RITES signed an MoU with Container Corporation of India (CONCOR) to collaborate on PMC services for logistics infrastructure including multimodal logistics parks, inland container depots and rail-linked terminals.