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RITES has secured a $97.13 million contract from the Guyana government for the upgradation of the Palmyra to Moleson Creek Highway, to be completed over 60 months. This order contributes to a 3.55% increase in RITES' order book, which now stands at Rs 6,581 crore, reflecting strong growth momentum. Chairman Rahul Mithal highlighted the company's ability to maintain a steady flow of new orders, achieving over 90 contracts valued at Rs 729 crore in the September quarter alone.
On November 25, Zomato, RITES, and JSW Steel emerged as notable gainers and losers in the trading session. Investors are encouraged to opt-in for push notifications to receive relevant updates and transaction alerts.
Stocks in focus on Monday include Zomato, Alembic Pharma, RITES, Akzo Nobel, Rail Vikas Nigam, Cochin Shipyard, CESC, and HG Infra. Additionally, ACME Solar Holdings, Niva Bupa Health Insurance Company, Sagility India, and Jainex Aamcol are set to release their quarterly earnings on November 25.
RITES shares rose approximately 2% after securing a Rs 36.36 crore contract from the Delhi Metro Rail Corporation for retrofit work on RS-1 trains. The contract, awarded on November 5, is set to be completed within three years and aims to enhance the performance and longevity of the trains.
RITES shares rose after the company secured a Rs 454-crore turnkey contract from the Karnataka Mining Environment Restoration Corporation for constructing two railway private freight terminals in Ballari District. This contract, previously a project management consultancy agreement, marks a significant project under the Comprehensive Environment Plan for Mining Impact Zone. RITES stock has increased approximately 17% this year, outperforming the Nifty's 12% return.
Bajaj Finance, Indus Towers, Paytm, Sonata Software, RITES, Persistent, and Olectra Greentech are set to be in focus in today's stock market. Key developments include significant investments, major deals, quarterly earnings, fundraising efforts, and new appointments.
RITES Limited
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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