RITES consortium emerges L1 in Railway project in Bangladesh

RITES led consortium emerged as the lowest bidder during competitive bidding process by Bangladesh Railways for 'Construction of Dual Guage Railway Line from Bogura to Shahid M. Mansur Ali station of Bangladesh Railway'.

This is 80 KM long green field project and it has two phases: 1) Preparation of DPR and 2) Construction supervision. Duration is 13 months for Phase - 1 and 30 months for Phase - 2. The project is funded by Exim Bank of India under LOC.

Total Fee Income would be about Rs. 63 crores and signing of Contract is expected to take place soon.

Shares of RITES Ltd was last trading in BSE at Rs.238.25 as compared to the previous close of Rs. 242.15. The total number of shares traded during the day was 20412 in over 1104 trades.

The stock hit an intraday high of Rs. 243.95 and intraday low of 237.35. The net turnover during the day was Rs. 4888181.

Source : Equity Bulls

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