RITES secured contract from NTPC Ltd
Railway Engineering and Consultancy arm, RITES Ltd., has received a rate contract from NTPC Limited for “Hiring of Diesel Locomotives on Lease Basis for NTPC Power Plants across the Country.”
The railway engineering and consultancy arm, RITES Ltd., has received a rate contract from NTPC Limited for the "hiring of diesel locomotives on a lease basis for NTPC power plants across the country."
According to the filing, NTPC stations shall place separate purchase orders from time to time within the validity of the contract, indicating the exact requirement, completion period/date, amount, etc. for actual execution. Meanwhile, the indicative value of this rate contract is Rs. 78.65 crores (excluding GST). The value of actual orders will depend upon the actual requirements of various NTPC stations.
Currently, the shares of RITES Ltd are trading higher by 0.23% at Rs 271.71 at BSE. The stock has been corrected by 4.95% in the last month. The market capitalization of the company is Rs 13.02K crore with a P/E ratio at 37.31.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
Read Also : Vedanta declared preferred bidder for Punnam manganese block in Andhra Pradesh