Psu
RITES receives locomotives order from Talis Logistics, South Africa
The delivery of the locomotives will be completed within 6 to 8 months from the receipt of advance. The broad consideration or size of the contract is USD 18.00 million (CIF).
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State-run RITES Ltd. has received a letter of award from Talis Logistics, South Africa, for “Supply and commissioning of overhauled in-service Cape Gauge ALCO diesel electric locomotives.”
The delivery of the locomotives will be completed within 6 to 8 months from the receipt of advance. The broad consideration or size of the contract is USD 18.00 million (CIF).
However, despite this significant order the shares of Railway PSU fell by over 2.06% to Rs 247.10 at BSE. The current market capitalization of the company is Rs 11.93K crore with a P/E ratio at 34.02.
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