Shares of RITES surged 5% in morning trade after the company announced securing a revised railway electrification project valued at ₹531.77 crore (excluding GST). This marks a significant increase from the initial cost estimate of ₹288.44 crore.
The electrification project will be executed on a turnkey basis, covering the Lumding Junction and Badarpur Junction sections of the Lumding Division under the Northeast Frontier Railway.
As of 9:20 am, RITES shares were trading 10.46% higher at Rs 304.05 on the NSE.
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