RITES Secures ₹78.65 Crore Rate Contract from NTPC for Locomotive Leasing

New Delhi, September 19, 2025 — RITES Limited (NSE: RITES, BSE: 541556) has announced receiving a rate contract from NTPC Limited. The contract relates to the leasing of diesel locomotives across NTPC power plants in India. The total duration of the contract will be for two years until September 2027 and is valued at ₹78.65 crore (excluding GST). However, the actual value will depend on the purchase orders placed by the client during the two-year contract period.

Post the announcement, the stock turned bullish and closed at ₹272.47 (0.71% higher from the previous day’s closing price).

RITES Limited, a Schedule ‘A’ Mini Ratna enterprise under the Government of India, specializes in transport infrastructure consultancy, turnkey solutions, and leasing services for both domestic and international markets.

Contract Details

The company has received a contract (domestic) from NTPC Limited for the hiring of diesel locomotives on a lease basis. The total duration is 2 years, and the approximate valuation is ₹78.65 crore, but the actual amount shall depend on the purchases made during the contract period. This is a critical contract because it underlines the role of the company in leased locomotive solutions to support the operational and logistical requirements of large firms.

Stock Price Movement

The share closed at ₹272.47 (0.71% higher from the previous day’s closing). The stock hit an intraday high of ₹273.50 and a low of ₹269.00, with a traded volume of 4.39 lakh shares and a market capitalization of ₹13,072 crore. After today’s surge, the stock has risen by 5.64% in the past month and by over 19.08% gain in the 6 months.

REF: https://nsearchives.nseindia.com/corporate/RITES_19092025130329_Major_Order_intimation_signed.pdf

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