RITES has recently informed exchanges that the company secured a new international order worth $3.6 million from the African Rail Company. The agreement involves the supply and commissioning of two fully overhauled ALCO diesel-electric locomotives. These locomotives, built to Cape Gauge specifications, will be deployed across Zimbabwe, Mozambique, and Botswana.
As part of the order, RITES will refurbish the locomotives with new bogies, traction motors, control systems, and air brake systems. The overhauling work will take place at a designated facility, with RITES also providing technical support through an on-site team to ensure smooth commissioning and warranty services.
This order is expected to be executed over a nine-month period. It marks another step in RITES’ continuing engagement with international clients in the railway infrastructure space.
In the meantime, RITES shares closed at ₹279.00 today, slightly down from the opening price of ₹280.60. During the day, the stock touched a high of ₹282.20 and a low of ₹277.50. The current price is well below its 52-week high of ₹398.45 but remains above the 52-week low of ₹192.40.
