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Shares of RITES may surge as it has emerged as a successful bidder for supply of locomotives, coaches and Diesel Electric Multiple Units (DEMUs) to a Cape gauge country. RITES has submitted the price bid for ₹680 crore and discussion on contract documents is expected to conclude soon, RITES said. These locomotives, coaches and DEMUs will be manufactured at the production unit of Indian Railways. The company is the nominated agency of Indian Railways for such exports.
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