In a corporate filing, RITES Ltd, a Miniratna Railway consultancy firm, said it had been awarded an order worth $81.17 million from National Railways of Zimbabwe (NRZ) for the supply of rolling stock.

The BSE filing on June 16 said that RITES has signed contract agreements with NRZ to supply 3000 HP Diesel Electric Locomotives and High-Sided Open Wagons, subject to approval by the funding agency. The notification also added that the order size would be $81,175,500 or approximately Rs 664.73 crore.

As of March 2023, the company maintained a healthy order book of Rs 5,870 crore. During the financial year 2023, RITES secured 240 new and extension orders to Rs 3,000 crore, of which more than 70 orders amounting to Rs 775 crore were added in the March quarter.

RITES Ltd is a Miniratna Central Public Sector Enterprise under the Ministry of Railways. It is a multidisciplinary engineering and consultancy organization.

At 12:30 pm, shares of RITES Ltd were trading at Rs 383.95, 1.48% higher from the previous close on NSE. The stock is up 12% yearly and has given a return of 7.29% over the last six months.