RITES Secures $35.82 Million Locomotive Order from Volantis

13 Jul 2026 CW Team

RITES Ltd has secured an international order from Volantis Asset Finance (Pty) Ltd of South Africa for the supply and commissioning of 4,000 HP Cape gauge diesel-electric locomotives, the company announced. The contract is valued at $35.82 million (mn) and covers delivery and commissioning work tailored to Cape gauge networks. The locomotives are rated at 4,000 HP and will be supplied under the terms agreed with the South African financier.

The international order is scheduled to be executed over a period of 20 months and the firm indicated that a formal contract agreement will be signed after due diligence by both parties. Once the agreement is executed, the order will be incorporated into RITES' order book and treated as an international award unrelated to any promoter or promoter group interest. The company clarified that the transaction does not amount to a related-party transaction and that its promoter group holds no interest in the entity awarding the contract.

Earlier, RITES had secured a domestic project management consultancy contract from Babasaheb Bhimrao Ambedkar University for campus infrastructure works valued at Rs 1.7541 billion (bn), excluding goods and services tax, with the assignment to be executed on a cost-plus fee basis. The task covers planning, design and development of infrastructural facilities and related works and is to be completed over a period of 30 months from the agreement date or until practical completion. The university engagement underlines the company's continuing order inflows across international and domestic markets.

Shares of RITES ended at Rs 216.20 on the BSE, down by Rs 1.90 or 0.87 per cent, reflecting a modest market reaction to the disclosures. The company expects the international order to strengthen its overseas portfolio while the domestic assignment reinforces recurring consultancy revenues. Investors will monitor execution timelines and contract signatures as the company formalises the agreements.

Infrastructure Transport

13 Jul 2026

Bhogapuram Airport Set For Take Off After Licence Issued

Union Civil Aviation Minister Kinjarapu Ram Mohan Naidu announced that Alluri Sitharama Raju Bhogapuram International Airport has achieved 100 per cent completion following issuance of its aerodrome licence by the Ministry of Civil Aviation after an inspection with public representatives, district officials and GMR Group representatives. The licence was granted after extensive verification over the past month to ensure that safety and operational standards were met. The Chief Minister's Office has already contacted the Prime Minister's Office to finalise an inauguration date and commercial fli..

Auto Sector To Grow 22-24 Per Cent In Q1 FY27

Credit Rating Information Services of India (Crisil) estimated that India's automobile sector is expected to report revenue growth of 22-24 per cent year-on-year in the first quarter of FY27 and to be among the largest contributors to corporate revenue growth in the quarter. The agency estimated overall corporate revenue to have grown 11-11.5 per cent year-on-year in the quarter ended 30 June 2026, the fastest pace in two years despite supply chain disruptions and higher input costs from the West Asia conflict. This compared with growth of 9.6 per cent in the preceding quarter. Crisil said the..

Nomura Sees Q1 Pressure On Cement Margins; Backs Major Players

Nomura said cement margins will be under pressure in the June quarter as fuel and packaging costs rose, although volume growth is expected to remain healthy. The brokerage forecast six to seven per cent year-on-year organic volume growth for the Indian cement industry in the period, with Shree Cement identified as likely to post the highest growth at 15 per cent year-on-year. It noted that the West and North regions outperformed on pricing, aiding companies with greater exposure in those markets. Average trade prices improved three per cent sequentially to around Rs 326 per bag after price inc..