RITES Limited's stock has experienced a rise after being awarded a Rs 454-crore turnkey contract by the Karnataka Mining Environment Restoration Corporation (KMERC). This contract involves the construction of two railway private freight terminals (PFTs) in Ballari District. It is a significant departure from the previous project management consultancy (PMC) contract, as it is now a comprehensive turnkey agreement.

The project, which is part of the Comprehensive Environment Plan for Mining Impact Zone (CEPMIZ), will be handled entirely by RITES, including the design and construction phases. Once completed, KMERC will be able to immediately utilize the facilities. RITES has seen a 17 percent increase in its stock value this year, surpassing the 12 percent return of the Nifty index during the same period.