India's RITES gains on order win

Rites

03/01/2025 06:34

** Shares of RITES  RITS.NS  rise 2% to 298.75 rupees
    ** Engineering co gets order worth 697.8 mln rupees ($8.1
mln) from Steel Authority of India's Bhilai steel plant 
    ** Order to repair 43 WDS6 locomotives for 3 years
    ** Also, RITES' unit signs memorandum of understanding with
Indian Railway Finance Corp  INID.NS  to finance power projects
for supply to railways
    ** Trading vols at 5.8 mln shares, 1.4x 30-day average
    ** RITES rose 16% in 2024 vs 48% gain in 2023

($1 = 85.7550 Indian rupees)

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))