Rites shares jump 6% after winning $3.6 million international order
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Rites shares rallied over 6% to Rs 296 on Wednesday after the company announced a significant international contract win, signaling a positive addition to its order pipeline. On July 1, 2025, RITES announced that it had secured a USD 3.6 million purchase order from African Rail Company for the supply and commissioning of two fully overhauled ALCO diesel-electric locomotives. These locomotives will be deployed in Zimbabwe, Mozambique, and Botswana. The project includes supply of Cape Gauge ALCO locomotives equipped with new bogies, traction motors, air brakes, and control systems, along with warranty support and technical deployment from RITES. The contract is expected to be executed within 9 months. Stock Price, Valuation & Technical Overview Shares of RITES Ltd rose 6% to Rs 296, compared to the previous close of Rs 279. With this move, the company’s market capitalization now stands at Rs 13,411.25 crore. Live Events Over the past th...