RITES Limited has informed the Exchange about Bagging/Receiving of orders/contracts
RITES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
RITES Limited has received a Letter of Acceptance from Research Designs and Standards Organisation (RDSO), Lucknow for a comprehensive maintenance contract of a dedicated test track between Gudha and Thathana Mithri stations on the Jodhpur division of North Western Railway. The contract is valued at Rs. 105.69 Crore (excluding GST) and is to be executed over 60 months (5 years) from the date of issuance of the LOA. This is a domestic government-to-government transaction, as both RITES (a Railways PSU) and RDSO fall under the Ministry of Railways. The contract adds to RITES' order book in its core railway infrastructure maintenance business.
Positive for the company – the order strengthens RITES' revenue visibility over the next 5 years and reinforces its position in railway track maintenance, though the size is moderate relative to its annual turnover and unlikely to be a major stock price catalyst on its own.