RITES recently informed exchanges that the company has been awarded a prestigious consultancy contract by the Meerut Development Authority worth Rs 122.60 crore.
The awarded contract involves consultancy services for the Preparation of a Detailed Project Report (DPR) and construction supervision of all infrastructure projects under the Meerut Development Authority’s jurisdiction. The consultancy will span a duration of five years, ensuring end-to-end project oversight and meticulous execution.
Key details of the contract are as follows:
- Client: Meerut Development Authority
- Scope: Preparation of DPR and supervision of infrastructure construction works.
- Nature of the Contract: Domestic consultancy services.
- Project Value: ₹122.60 Crores (excluding GST).
- Timeline: 5 years
In the meantime, RITES shares closed at ₹299.20 today, marking a slight dip from the opening price of ₹301.90. The stock touched an intraday high of ₹301.95 and a low of ₹297.10. Currently trading below its 52-week high of ₹412.98, the stock remains significantly above its 52-week low of ₹235.48
