RITES Ltd announces termination of major order secured from UPSBCL

A Letter of Acceptance was received by RITES on October 28, 2024 from U.P. State Bridge Corporation Limited for "Consultancy Services for Construction Supervision of Civil Works (CSC) for Supervision, Monitoring, Quality Control, and Work Zone Safety for Construction of Bridges, Rail Over/Under Bridges, Flyovers and Elevated Roads including approaches in several districts of Uttar Pradesh". In this connection we would like to inform you that pursuant to Foreclosure Agreement between RITES and UPSBCL, it has mutually agreed for foreclosure of the Principal Agreement for the aforesaid work.

Shares of RITES Limited was last trading in BSE at Rs. 230.15 as compared to the previous close of Rs. 223.45. The total number of shares traded during the day was 121466 in over 2340 trades.

The stock hit an intraday high of Rs. 231.70 and intraday low of 224.95. The net turnover during the day was Rs. 27809267.00.

Source : Equity Bulls

Keywords

RITES INE320J01015 Termination MajorOrder UPSBCL