New Delhi: State-owned engineering consultancy firm RITES Limited has won a major order worth ₹105.69 crore (excluding GST) from the Research Designs and Standards Organisation (RDSO), Lucknow. The contract involves the comprehensive maintenance of a dedicated test track in Rajasthan and marks a significant addition to RITES’ portfolio in railway infrastructure services.
The company disclosed the order to stock exchanges under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
Scope of the Maintenance Contract
The contract covers the maintenance of the dedicated test track located between Gudha and Thathana Mithri stations in the Jodhpur division of North Western Railway (NWR). The project will be executed over a period of 60 months from the date of issuance of the Letter of Acceptance (LoA).
As per RITES, this is a domestic government-to-government contract, with no related party considerations involved. The order is expected to further strengthen RITES’ capabilities in specialized track management and railway infrastructure maintenance services.
Impact on RITES’ Market Performance
Following the announcement, shares of RITES on the NSE were trading at ₹183.07 at 1:32 pm on Monday, down 4.43% from the previous close of ₹191.56. The stock hit a fresh 52-week low of ₹182.25 during the session. Year-to-date, RITES shares have fallen over 24%, underperforming the Nifty 500, which is down about 13.68% over the same period.
About RITES Limited
RITES Limited, a Schedule ‘A’ enterprise of the Government of India, is a premier consultancy company specializing in transport infrastructure and related services, including railways, roads, and ports. Listed on both NSE and BSE, RITES has a market capitalization of approximately ₹8,812.83 crore as of Monday afternoon. The company has consistently played a vital role in executing and maintaining India’s key infrastructure projects.
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