Stocks

Fresh orders likely to drive RITES

| Updated on September 18, 2019 Published on September 19, 2019

 

RITES has signed a contract for supply of two additional fully air-conditioned diesel multiple unit train sets for $22.4 million (₹160 crore) with the Ministry of Transport and Civil Aviation, Government of Sri Lanka.

RITES has just completed supply of six DMU coaches to Sri Lanka with special features and amenities, under a previous contract, it said. The supply under the new contract will be done in FY 2020-21, it further added. The PSU stock may react positively.

Published on September 19, 2019
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