RITES share price surged by more than 7% on Friday, September 26, following the announcement that the state-owned railway company secured an $18-million deal from Talis Logistics in South Africa to provide and install refurbished diesel locomotives in a timeframe of 6 to 8 months.
“We are pleased to inform you that RITES has received letter of award from Talis Logistics, South Africa for “Supply and commissioning of Overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives,” said the firm in an exchange filing.
Last week, the company secured a rate contract worth ₹78.65 crore from NTPC for leasing diesel locomotives for NTPC power plants throughout the country.
RITES has confirmed that the deal does not engage any related parties, and neither the promoter nor the promoter group has any stake in Talis Logistics. The agreement is being carried out on a CIF (Cost, Insurance, and Freight) basis, with delivery scheduled to be fulfilled at the client’s port in South Africa.
RITES Q1 results
RITES announced consolidated operating revenue of ₹490 crore for Q1FY26 (excluding other income), up from ₹486 crore in Q1FY25, reflecting a slight increase of 0.8%. Total revenue reached ₹512 crore compared to ₹508 crore in the previous year.
Ebitda was recorded at ₹117 crore, with a margin of 23.8%, while PAT amounted to ₹91 crore with a margin of 17.8 per cent, showing growth of 7.9 per cent and 0.5% year-over-year, respectively. The consistent performance can be attributed to enhanced execution efficiency in significant consultancy projects, a strong operational focus, and the incorporation of leased locomotives, as stated by the company.
RITES share price today
RITES share price today opened at ₹262.60 apiece on the BSE. The stock touched an intraday high of ₹270.60 and an intraday low of ₹258.10 per share.
According to Anshul Jain, Head of Research at Lakshmishree, RITES share price is currently trading within a defined range of ₹240–285, with price action consolidating for several sessions. “In the latest session, volumes surged nearly 300% above the 50-day average, indicating fresh institutional interest. The stock is attempting to break through a confluence of moving average resistances at the 10, 20, and 50-day EMAs,” said Jain.
“However, confirmation of strength will only come on a sustained close above 275. Until then, the broader range-bound structure remains intact. A decisive breakout above 275 will likely open the path toward 285 and beyond, while 240 continues to act as key support,” added Jain.
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