RITES surges 13% as Northeast Frontier Railway ups project estimate to Rs 531.77 cr

RITES stock has also surged over 12 percent in the past week.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Shares of RITES surged close to 13 percent in opening trade on November 25 after the Northeast Frontier Railway raised its project estimates by over 84 percent to Rs 531.77 crore as against the earlier Rs 288.44 crore.

The project involves railway electrification work of the LMG-BPB section of the Lumding division of the Northeast Frontier Railway on a turnkey basis. The revision in project estimates will provide a boost to RITES' order book which stood at Rs 2,000 crore in the first half of FY25.

In Q2, the company bagged over 90 orders, achieving the milestone of securing one order per day and remains confident in sustaining this momentum year-round. The momentum has sustained as the company had already bagged orders worth Rs 650 crore in Q3 so far.

At 09.31 am, shares of RITES were trading at Rs 302.50 on the NSE. The stock has also surged over 12 percent in the past week.

Follow our market blog to catch all the live action

In the past month, the company has bagged several orders. Firstly, it received a Rs 36 crore order from the Delhi Metro Rail Corporation for retrofit work on RS-1 trains. Another major contract worth Rs 59.13 crore was awarded from the UP State Bridge Corporation for supervision of various infrastructure projects across Uttar Pradesh.

Meanwhile, RITES also signed Memorandum of Understandings (MoUs) with SAIL-Bokaro Steel Plant for railway infrastructure and Etihad Rail to ramp up UAE infrastructure in the past month.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.