New Delhi: Shares of Rail India Technical and Economic Service (RITES) have seen a bumper jump today. Its shares have registered a jump of up to 4 percent today. This rise in the shares of RITES has come after receiving an order of Rs 69.78 crore. Apart from this, its subsidiary REMC has signed an agreement with IRFC on financing the power project.

Shares rose 14% in one year

Shares of RITES made their intraday high at Rs 304.90 on Friday. At the same time, this stock made its 52-week high at Rs 412.98, while its 52-week low is Rs 249.75. Let us tell you that this railway PSU stock has gained only 3 percent in the last one month, while a decline of 15.32% has been registered in the 6-month period. At the same time, there has been an increase of 14 percent in one year.

Received an order worth 70 crores from SAIL

Let us tell you that RITES has received a work order for R3Y / R6Y repair of WDS 6 locomotive (43 numbers) from Steel Authority of India (SAIL) Bhilai Steel Plant. The company said in an exchange filing, “As per Regulation 30 read with Para B of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, we are pleased to inform you that RITES has been awarded the work of R3Y / R6Y repair of WDS6 locomotive (43 numbers) for a period of 3 years.”

MoU signed with IRFC

Further, the company said that its subsidiary REMC has signed a memorandum of understanding (MoU) with Indian Railway Finance Corporation (IRFC) to explore options for financing the power project for supply to railways.