RITES rises on emerging as lowest bidder in tender floated by Tanzania Railways Corporation
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Rites is currently trading at Rs. 656.85, up by 7.65 points or 1.18% from its previous closing of Rs. 649.20 on the BSE.
The scrip opened at Rs. 656.65 and has touched a high and low of Rs. 666.35 and Rs. 655.25 respectively. So far 34444 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 826.15 on 27-Feb-2024 and a 52 week low of Rs. 432.65 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 667.00 and Rs. 645.05 respectively. The current market cap of the company is Rs. 15766.21 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 14.28% and 13.51% respectively.
RITES has emerged as the lowest bidder (L-1) in the tender floated by Tanzania Railways Corporation for Supply, testing and commissioning of 4 Diesel Multiple units for MGR. The order is subject to award after the due process of scrutiny/ evaluation by the Tanzania Railways Corporation as per the requisite requirements mentioned in the tender documents. The estimated value of the bid is $2,67,40,000 plus VAT. The said order is expected to be completed by 547 days from the date of issuance of Letter of Award.
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.
