RITES Shares Surge on Securing Contract from Numaligarh Refinery and Oil India

Rites Limited has secured two major infrastructure contracts that have energised investor confidence. The company won a ₹155.50 crore contract from Numaligarh Refinery Limited (NRL) for developing railway sidings and a ₹157.25 crore contract from Oil India Limited for constructing a Workmen Housing Complex.

Key Details of the Contracts

• The NRL contract involves the development of railway infrastructure on a turnkey cost-plus basis. This includes the construction of railway sidings at the NRL Panchgram Terminal, a third railway spur at Rangapani (SMT) and a crude oil loading siding at Duliajan. The total value of the project is ₹155.50 crores, excluding GST, with a timeline of 24 months from the site handover.
• The Oil India contract involves the turnkey construction of a Workmen Housing Complex (BQ Area) at Duliajan, executed under the Depository Works Mode. The total value of the project is ₹157.25 crore, excluding GST, with a completion period of 36 months.

About Rites Limited

Rites Limited is a government-owned engineering and consultancy leader specialising in transport infrastructure. The company’s expertise spans railways, roads, ports and airports, covering planning, design and project execution across India and international markets.

Share Performance 

As of April 01, 2025, at 10:30 AM, with a market capitalisation of ₹110.39 billion, Rites share price is trading at ₹228 per share, reflecting a profit of 2.07% from its previous closing price.

Over the past month, the stock has registered a profit of 14.88%. The P/E ratio stands at 32.30. The stock’s 52-week high stands at ₹398.45 per share, while its low is ₹192.40 per share.

Conclusion

These contract wins demonstrate RITES’ strong capabilities in infrastructure development and its ability to secure high-value projects. The ₹312.75 crore combined value significantly strengthens the company’s order book and market position.

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