RITES Limited has informed the Exchange about receiving of major order from South Western Railway
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On the reaction day the stock moved 6.1 pts more than Nifty Smallcap 250 and 6.5 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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RITES Limited, through its joint venture RITES-Aryan JV, has secured a Letter of Award (LOA) from South Western Railway for the redevelopment of Tumakuru Station under an Engineering, Procurement and Construction (EPC) contract. The scope covers civil works, signal and telecommunication works, and electrical general services. The project is to be executed within 540 days from the appointed date. RITES' share in the order value is Rs. 37.81 Crore (excluding GST). The transaction is between two government entities, with no related-party concerns.
The order adds to RITES' order book in the railway infrastructure segment, though at Rs. 37.81 Crore it is a relatively small-ticket win and unlikely to materially move the stock. It reinforces the company's steady order flow from Indian Railways but is not a transformative deal.