Rites jumped 5.53% to Rs 258.45 after the company secured major orders amounting to Rs 93 crore approximately.
The company secured a turnkey order of signalling works from Ministry of Railways amounting to Rs 67.18 crore. It also won an order for extension of general consultancy work for Nagpur Metro rail project and GEC positions from Gujarat Metro Rail Corporation amounting to Rs. 26 crore.
RITES is a Miniratna (Category - I) Schedule 'A' Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31 December 2020, the Government of India held 72.2% stake in the company.
The PSU company's consolidated net profit declined 29.8% to Rs 105.31 crore on 27.51% decline in revenue from operations to Rs 449.29 crore in Q3 FY21 over Q3 FY20.
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