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RITES entered into MoUs with SAIL-Bokaro Steel Plant for improved railway development and Etihad Rail for improved infrastructure in the UAE. All these collaborations show that the company has set its strategic direction of exploring new opportunities and markets.
RITES Ltd’s stock rose by almost 13% in the early trade on November 25 after the Northeast Frontier Railway has renewed the project cost estimates. The estimated cost of electrification work in the Lumding division's LMG-BPB section is ₹531.77 crore, an 84% increase from the previous estimate of ₹288.44 crore.
This adjustment is expected to significantly enhance RITES’ order book, which totaled ₹2,000 crore in the first half of FY25. The proposed project to be delivered on a turnkey basis forms part of the company’s expanding pipeline of infrastructure schemes.
At 09.31 am, the NSE was trading RITES at ₹302.50, a significant rise of more than 12% in a single week. The stock has also performed well over the past year, delivering a 17.2% return compared to the Sensex’s 20% rise during the same period.
During the second quarter of FY25, several sources indicate that RITES managed to secure over 90 orders averaging one project per day. In addition, the company has been signing ₹650 crore of contracts in Q3.
In recent orders, RITES has secured a ₹36 crore order from Delhi Metro Rail Corporation for retrofit work on RS-1 trains. However, one of the largest deals includes an ₹59.13 crore deal awarded by the Uttar Pradesh State Bridge Corporation for supervision of infrastructure across the state.
Furthermore, RITES entered MoUs with SAIL-Bokaro Steel Plant for improved railway development and Etihad Rail for improved infrastructure in the UAE. All these collaborations show that the company has set its strategic direction of exploring new opportunities and markets.
Initially offering its services solely in the railway sector, RITES has expanded its service portfolio to cover the entire range of transport solutions. This includes project conceptualization, feasibility study, system integration, and rolling stock production. Besides transportation, the company has specialization in power, water and environmental sectors.
With operations in over 55 countries, RITES has established itself as a global player in infrastructure development. Its technical expertise enables it to deliver sustainable solutions, fostering connectivity and growth in domestic and international markets.
