This government company got an order of ₹ 100 crore, will work for Adani Group:This government company got an order of ₹ 100 crore, will work for Adani Group

Railway-linked company RITES Ltd has received a big order from the Adani Group. Government company RITES Ltd said on Friday (September 27) that it has received a work worth Rs 100 crore from Adani Ports and SEZ Limited (APSEZ). Under this, it has received a Letter of Award (LOA) to provide railway operation and maintenance services at Dhamra Port. This order worth about ₹ 100 crore excluding GST is to be completed in 5 years.

will work for delhi metro

Earlier, the consortium led by RITES Limited emerged as the lowest bidder in the tender of Delhi Metro Rail Corp Limited. The bid for this was ₹ 87.58 crore. The stock exchange filing said- RITES Consortium has emerged as the lowest bidder (L-1) in the tender issued by Delhi Metro Rail Corporation Limited for retrofit work in DMRC's RS-1 trains. RITES' share in the total tender value is 49% or ₹ 42.91 crore, which includes GST. RITES said that the consortium has to complete the work within three years.

Declaration of bonus shares

Recently, RITES Limited announced 1:1 bonus share allotment to eligible shareholders and a final dividend of ₹5 per share. The PSU's share price has gained over 45% this year. Shares of RITES Limited closed at ₹357.70, down ₹7.70 or 2.11% on the BSE.

company plan

RITES Limited is focused on becoming a future-ready company with several measures focused on IT and AI. Rahul Mithal, Chairman and Managing Director of RITES, an infrastructure, consultancy and engineering company under the Ministry of Railways, said this in a statement recently. In the last five decades, RITES has grown from humble beginnings to achieve the prestigious Navratna status in the current financial year.