Shares of RITES Ltd. were trading flat during the early trading hours, touching a day’s high of Rs 768.80 on 16 July after the company proclaimed a major order from the Public Works Roads Department of the Government of Assam.

The firm announced securing a Rs 50.18 crore order from Assam’s Public Works Roads Department. The order size, excluding GST, is Rs 42.53 crore, as per the filing on 16 July.

They will provide consultancy services for third-party monitoring and quality control for 996.7 km of roads in Assam under the Asom Mala 2.0 programme. This contract spans 18 months, covering 47 roads as part of the 2023–24 initiative.

On 1 July, the company announced a Rs 26.79 crore plus GST order from the Karnataka Mining Environment Restoration Corporation. It involves providing project management consultancy for railway private freight terminals in Ballari District. The contract’s execution period is 24 months from the contract signing date under the CEPMIZ initiative.

The stock has seen consistent gains, with a 2.69% increase in the last week and an 8.84% rise over two weeks. Over longer periods, the stock has surged 15.05% in three months and 45.71% in six months, nearly doubling with a 95.8% gain over the last year.

However, at 3:30 PM, the shares of RITES Ltd. closed 1.75% lower at Rs 746 on BSE.

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