Shares of RITES Ltd surged 2% to a day’s high of Rs 270 on 26th September, after the company received a letter of award on 25th September from Talis Logistics, South Africa, for the supply and commissioning of overhauled in-service, specially designed locomotives.

The contract, valued at Rs 148 crore ($18 million), will be executed within 6-8 months from the receipt of advance payment.

Last week, RITES also secured an order worth Rs 78.65 crore from NTPC to lease diesel locomotives for power plants across India. The NTPC contract is scheduled to be completed by 19th September, 2027. The final value depends on station requirements.

In its June quarter results, RITES reported a slight improvement across key metrics. Revenue rose 0.8% YoY to Rs 489.7 crore, and net profit increased 0.7% to Rs 91 crore. Additionally, EBITDA grew 7.8% to Rs 114 crore, with margins expanding 150 basis points to 23.3%. This reflects better operational efficiency despite modest revenue growth.

At 12:41 PM, the shares of RITES Ltd were trading 2.01% higher at Rs 257.36 on NSE.

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