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The latest announcement is out from RITES Ltd. ( (IN:RITES) ).
RITES Ltd. has secured a major domestic contract from the Research Designs and Standards Organisation (RDSO), Lucknow, for the comprehensive maintenance of a dedicated railway test track between Gudha and Thathana Mithri stations in the Jodhpur division of the North Western Railway. The five-year contract, valued at about Rs. 105.69 crore excluding GST, strengthens RITES’ order book in its core railway maintenance domain and underscores its strategic role as a government-owned partner in critical rail infrastructure, with implications for sustained revenue visibility over the contract period.
The order involves long-term upkeep and operational reliability of a specialized test track, highlighting RITES’ technical capabilities in handling niche rail infrastructure assets for key government agencies. As the transaction is between a government department and a government company, it reinforces intra-government collaboration in rail modernisation, while positioning RITES to deepen its engagement with RDSO and the wider Indian Railways ecosystem.
More about RITES Ltd.
RITES Ltd. is an Indian government-owned engineering consultancy company focused on transport infrastructure, particularly railways. It provides project management, consultancy, and maintenance services to domestic public sector entities, supporting the development and upkeep of key railway assets across the country.
Average Trading Volume: 93,090
Technical Sentiment Signal: Sell
Current Market Cap: 92.11B INR
Find detailed analytics on RITES stock on TipRanks’ Stock Analysis page.