RITES shares soar 5% on winning $9.7 million order from Guyana
[hfe_template id='11223']
[ad_1]
Shares of PSU railway stock RITES on Monday rallied up to 5% to Rs 309.85 on BSE after it won a contract for engineering services for upgrading of the Palmyra to Moleson Creek Highway in Guyana for $9.71 million. "We are pleased to inform you that RITES has emerged as top scorer (H-1 bidder) based on QCBS evaluation for “Provision of Engineering Services for Design- Build-Finance: Upgrading of the Palmyra to Moleson Creek Highway- Lot 1-3” from Ministry of Public Works, Government of the Co-operative Republic of Guyana," RITES said in a regulatory filing. The letter of acceptance shall be issued after due process of scrutiny /evaluation by the Ministry of Public Works, Government of the Co-operative Republic of Guyana, it said. The project has a timeline of 60 months including the pre and post-construction period. Earlier last week, the company had announced that it won a Rs 148.25 crore order from the Indian Institute of Manage...