RITES Ltd bags work orders from two major PSUs
The cost of the project is around Rs. 155.50 Crores, excluding GST (including PMC / Consultancy Fees). The time needed to complete the order is 24 Months from site handover.
State-run RITES has received a Letter of Award from Oil India Limited for “Construction of Workmen Housing Complex (BQ Area) at OIL, Duliajan on Turnkey Basis under Depository Works Mode”. The time by which the contract will be executed is 36 Months. The cost of the project is around Rs. 157.25 Crore, excluding GST (including Executing Agency Charges).
In addition, the rail telecom and economic service provider has received Letter of Award from Numaligarh Refinery Limited for “Railway Sidings at NRL Panchgram Terminal, 3rd Railway Spur at Rangapani (SMT) and Duliajan (Crude Oil TW Loading Railway Siding) of OIL” on turnkey on cost plus mode subject to detailed Engineering approval from Railways.
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The cost of the project is around Rs. 155.50 Crores, excluding GST (including PMC / Consultancy Fees). The time needed to complete the order is 24 Months from site handover.
The shares of RITES Ltd ended at Rs 223.18. The stock has been corrected over 9% in the past one month. The dividend yield is at 3.32%.
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