RITES Ltd shares rose more than 4% in early Friday trade after the company announced a significant international order. The engineering and consultancy firm informed exchanges that it has received a Letter of Award from Talis Logistics, South Africa, under which it will supply and commission overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives.
The order, valued at USD 18 million (approximately ₹150 crore), has been awarded by an international entity and is not a related-party transaction. According to the company’s filing, delivery of the locomotives is expected to be completed within six to eight months from the receipt of advance payment.
This win strengthens RITES’ footprint in the African market and highlights its growing presence in international railway solutions. The contract includes both supply and commissioning, adding to the company’s export portfolio.
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