RITES Limited has informed the Exchange about Intimation of major order secured from NTPC Limited
RITES · price
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Awaiting price reaction for this filing.
RITES Limited has received a Letter of Award from NTPC Limited for a Biennial MGR Mega Contract covering S&T maintenance, track maintenance, MGR operation, and DU handling at the NTPC Mouda Super Thermal Power Project. The contract is valued at Rs. 25.30 crore (excluding GST) and is to be executed over a period of 24 months. The order has been awarded by a domestic entity and is not a related party transaction. NTPC is a public sector undertaking, and the work pertains to operations and maintenance services for its thermal power facility.
This is a relatively small order (likely around 1% of RITES' annual revenue) and is unlikely to materially impact the stock price on its own. However, it signals continued order inflow in RITES' services/operations & maintenance segment from public sector clients.