RITES share price jumps over 8% after bagging overseas locomotive supply order worth $36 million
RITES said it received an acceptance of its offer from Volantis Asset Finance (Pty) Ltd., South Africa, for the supply and commissioning of 4000 HP Cape Gauge diesel electric locomotives.
RITES share price jumped over 8% in early trade on Tuesday, after the company bagged an export order. The PSU railway stock rallied as much as 8.19% to ₹233.65 apiece on the BSE.
The state-run Navratna company said it received an acceptance of its offer from Volantis Asset Finance (Pty) Ltd., South Africa, for the supply and commissioning of 4000 HP Cape Gauge diesel electric locomotives.
“Contract Agreement shall be signed against this communication after due diligence at both ends and thereafter, the same shall be added to the order book,” RITES said in a regulatory filing on July 6.
The international order is valued at $35.82 million and is scheduled to be executed over a period of 20 months.
Earlier this month, RITES had announced receiving an order for Project Management Consultancy services for planning, design and development of infrastructural facilities and other related works in the campus of Babasaheb Bhimrao Ambedkar University (BBAU) on Cost Plus PMC Fee basis.
The total project cost is ₹175.41 crore, and the time period for order to be executed is 30 months for initial work or till the completion of allotted work, whichever is later from the date of signing of agreement, it said.
RITES Share Price Performance
RITES share price has risen 9% in one month and has gained 20% in three months. The railway stock has fallen 5% in six months, and has declined over 18% in one year. The PSU stock has dropped 40% in two years, but has jumped 70% over the past five years.
At 9:35 AM, RITES share price was trading 6.81% higher at ₹230.65 apiece on the BSE.
About the Author
Ankit Gohel is the Deputy Chief Content Producer at Livemint, specialising in financial markets, macroeconomics, and regulatory developments. With a strong focus on equity markets, primary issuances, and policy-driven market movements, he brings clarity to complex financial developments for investors and market participants. <br><br> With nine years of experience in business and financial journalism, Ankit’s approach is rooted in the belief that market reporting should go beyond headlines — connecting data, policy, and ground realities to deliver actionable insights. His work consistently bridges the gap between institutional analysis and investor understanding. <br><br> Ankit has spent three years at Livemint, where he currently helps drive market coverage, editorial strategy, and high-impact financial stories. Prior to this, he worked with leading business news networks such as CNBC-TV18, ET Now, TickerPlant News Service where he built deep expertise in stock market analysis, macroeconomic trends, primary markets, and coverage of key regulators including the RBI and SEBI. <br><br> Over the years, he has covered market cycles across bull and bear phases, IPO booms, liquidity shocks, and major policy shifts that reshaped investor sentiment. He has interviewed fund managers, corporate leaders, and policymakers, translating their perspectives into sharp, data-backed narratives. Ankit combines speed with accuracy — ensuring timely, credible, and insight-driven financial journalism that empowers both retail and institutional audiences.
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