Stocks

RITES likely to sail on Kerala Government order

| Updated on March 13, 2020 Published on March 14, 2020

RITES has secured a consulting work award with fee income of ₹60 crore from the Government of Kerala for conducting independent quality audit for Kerala Infrastructure Investment Fund Board projects.

The period of execution is likely to be 21 months, the public sector undertaking (PSU) said in a notice to the stock exchanges. The stock of RITES may react positively to the development, even as its shareholders will closely monitor the execution of the project and further details.

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Published on March 14, 2020
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