RITES zooms on emerging as lowest bidder in tenders from CFM
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Rites is currently trading at Rs. 479.40, up by 24.20 points or 5.32% from its previous closing of Rs. 455.20 on the BSE.
The scrip opened at Rs. 456.75 and has touched a high and low of Rs. 501.20 and Rs. 456.75 respectively. So far 448285 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 501.20 on 24-Jul-2023 and a 52 week low of Rs. 246.55 on 22-Jul-2022.
Last one week high and low of the scrip stood at Rs. 501.20 and Rs. 382.90 respectively. The current market cap of the company is Rs. 11629.41 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 18.69% and 9.11% respectively.
RITES has been emerged as lowest bidder in the tenders for procurement of locomotives and wagons invited by CFM, Mozambique. The order is subject to award after the due process of CFM, Mozambique’s scrutiny/ evaluation as per the requisite requirements mentioned in the tender documents. The estimated value of the bid is around Rs 500 crore.
RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.
