RITES wins Rs 55 crore highway consulting order from NHIDCL

On Monday after market hours, government enterprise, RITES Limited announced that it has won a major highway consulting order from National Highways & Infrastructure Development Corporation Limited (NHIDCL) amounting to approximately Rs 55 crore.

RITES Limited is a joint venture partner and the project comprises preparation of a detailed project report and provision of pre-construction activities for constructing highway tunnels across certain sections on Darcha-Padam road (NH-301) including approaches in Ladhak & Himachal Pradesh.

The order book of the company stood at Rs 5,782 crore as on December 31, 2019 which gives the revenue visibility for the next two to two-and-a-half years.

In the early morning session today, the stock of RITES opened at Rs 254, up by three per cent from its previous close of Rs 247.35 on BSE.