🚆 RITES Shares Surge Over 2% as It Becomes Lowest Bidder for ₹28 Crore GUDC Project
RITES shares gained momentum on Tuesday, May 3, 2025, following a major development in its infrastructure business. The PSU engineering consultancy firm has emerged as the lowest bidder for a ₹28.50 crore project floated by the Gujarat Urban Development Company Ltd (GUDC), sparking fresh investor interest in the stock.
📈 RITES Share Price Soars Intraday on NSE
Shares of Rail India Technical and Economic Service (RITES) witnessed a sharp rise during intraday trading on the National Stock Exchange (NSE). The stock surged 2.18% to hit a high of ₹285.40 per share, reflecting bullish sentiment after the company’s regulatory filing about the GUDC tender.
However, the stock later settled flat at ₹279.30 apiece by the end of the trading session. Despite closing unchanged, the intraday jump attracted attention, especially from retail investors tracking RITES share price movements on NSE.
📑 Details of the GUDC Project
According to the official filing, RITES has emerged as the L1 (lowest bidder) for GUDC’s project under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT 2.0). The ₹28.50 crore bid, excluding GST, is aimed at appointing a third-party inspection company for multiple urban development schemes.
The project will involve inspection services for:
- Water Supply Schemes (WSS)
- Underground Drainage (UGD)
- Sewage Treatment Plants (STP)
These services will be provided across urban local bodies in Gujarat under the AMRUT 2.0 program.
The awarding of the project will be subject to “due process of scrutiny and overall evaluation (technical and financial),” as per the GUDC’s tender norms. Once confirmed, RITES will have 60 months to complete the project from the date of the Letter of Award (LoA) or Notice to Proceed (NTP).
🤝 RITES Inks MoU with Shree Cement for Rail Infrastructure
In another significant update, RITES recently signed a Memorandum of Understanding (MoU) with Shree Cement Limited. This partnership aims to enhance rail infrastructure and allied services, underlining RITES’s strategic focus on expanding its core engineering and consultancy verticals.
This MoU signals long-term opportunities for infrastructure development, and aligns with RITES’s broader mission of enabling connectivity and sustainable urban growth across India.
📊 RITES Share Price Performance
Let’s take a quick look at RITES share performance on the stock market:
- Weekly Gain: Up 1.41% over the past week
- Monthly Gain (May 2025): Surged 23.24%
- Two-Month Growth: Climbed 25.4%
- YTD (Year-to-Date): Down 3.91%
- 52-Week Low: ₹192.40 (March 3, 2025)
- 52-Week High: ₹398.45 (July 8, 2024)
As of May 3, 2025, the market capitalization of RITES stands at approximately ₹13,449.70 crore on the NSE.
🧐 Should You Track RITES Share Price Now?
Given its recent activity in major infrastructure projects and its collaboration with large corporations like Shree Cement, RITES shares could remain in focus in the near term. Its emergence as the lowest bidder for a government-backed project adds to its credibility and execution strength.
Additionally, the robust pipeline of infrastructure investments under government schemes like AMRUT 2.0 bodes well for companies like RITES, which offer specialized engineering and consultancy services. Investors tracking RITES share NSE might consider monitoring the next regulatory steps and final awarding of the project.
📝 Conclusion
The recent surge in RITES share price is reflective of investor optimism around its potential new project with GUDC. As the PSU awaits formal confirmation, this ₹28 crore project could become another feather in its cap if awarded successfully.
Coupled with the MoU signed with Shree Cement and a growing portfolio of public-private partnerships, RITES appears well-positioned to benefit from India's ongoing infrastructure boom.
Investors and market watchers should keep a close eye on RITES share NSE updates, as any positive news could trigger further upside in the stock.
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