RITES Share Price Surges Over 6%; Receives Acceptance for $35.8 Million South Africa Locomotive Order

RITES Limited has 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, as per the exchange filings. 

The international order is valued at $35.82 million ($35,820,000), with the company stating that the formal contract agreement will be signed after due diligence by both parties.  

Scope of the Order 

The contract covers the supply and commissioning of 4000 HP Cape Gauge Diesel Electric Locomotives for the South African customer. 

Once the agreement is executed, the project will be carried out over a period of 20 months, after which the order will form part of the company's order book.  

Contract to Follow Due Diligence 

RITES clarified that it has received an acceptance of its offer, while the final contract agreement will be signed after completion of due diligence by both parties. 

The company added that the order will be included in its order book only after the agreement is formally executed.  

About RITES Limited 

RITES is a Government of India enterprise engaged in transport infrastructure consultancy and engineering services. The company provides services across railways, highways, ports, urban transport, airports and related infrastructure projects in India and international markets. 

It also undertakes exports of rolling stock, locomotives and railway equipment, along with project management and commissioning services for overseas clients. 

Read More: MOIL Share Price in Focus; Reports Growth in Manganese Ore Production and Sales in Q1 FY27! 

RITES Share Price Performance  

As of 07 July 2026, at 11:18 AM, RITES Limited share price was trading at ₹231.10 per share, reflecting a surge of 6.92% from the previous trading session. 

Conclusion 

The acceptance marks the next step towards finalising RITES' international locomotive supply contract with Volantis Asset Finance (Pty) Ltd. Following the completion of due diligence and signing of the agreement, the project will proceed under the terms of the 20-month execution schedule.  

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