RITES Shares Surge 5% on Securing ₹148.25 Crore Order from IIM Raipur

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Mumbai: Shares of RITES Ltd. rallied nearly 5% on Dalal Street during early trading on Monday after the company announced securing a significant order worth ₹148.25 crore from Indian Institute of Management (IIM) Raipur. The contract involves project management consultancy services for the construction and development of IIM Raipur’s campus infrastructure.



The order reflects RITES' robust capabilities in delivering high-value consultancy services and its expanding presence in the infrastructure sector. Investors responded positively to the news, with the stock trading at a multi-week high during the session.

In an official statement, RITES highlighted that the project scope includes end-to-end management services, covering planning, design, and supervision for IIM Raipur’s state-of-the-art campus. This is expected to enhance the institute's facilities and contribute to its academic excellence.

Market analysts view the deal as a major boost to RITES' order book, which has been consistently growing in line with India’s infrastructure development push. The ₹148.25 crore contract further underscores the company’s leadership in providing consultancy services for prestigious projects across sectors.

The rally in RITES shares also reflects investor optimism about its ability to secure similar high-value projects, supported by its strong execution track record and government affiliations.

By mid-day, the stock was trading at ₹XXX, up XX% from the previous close, outperforming broader market indices. Analysts are maintaining a bullish outlook on RITES, citing strong fundamentals and an increasing pipeline of infrastructure projects.

This development is likely to strengthen RITES’ revenue streams and solidify its position as a premier infrastructure consultancy company in India.

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