RITES Limited shares gained 3% after securing a major ₹297.67 crore contract from the Ministry of External Affairs, Government of India. The project involves providing project implementation services for constructing an Integrated Check Post (ICP) to enhance cross-border trade and streamline immigration and customs processes.
Key Project Details:
- Scope: Comprehensive project implementation services for ICP construction
- Value: ₹297.67 crore (excluding GST)
- Duration: 59 months, including defect liability period
- Domestic Focus: Fully domestic project with no international stakeholders
- Transparency: Not a related party transaction
This contract highlights RITES’ expertise in delivering critical infrastructure projects and reinforces its position in the engineering and project management sector.
As of 9:16 am, RITES shares were trading 3.02% higher at Rs 306 on the NSE.
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