RITES Surges 6% Following Collaboration with DMRC

18 Jun 2024 CW Team

RITES Limited, a leading engineering consultancy firm, has witnessed a significant surge of over 6% in its stock price following the announcement of a collaboration with Delhi Metro Rail Corporation (DMRC). This partnership aims to leverage RITES' expertise in engineering and consultancy services to support DMRC's ongoing and future projects.

The collaboration between RITES and DMRC is expected to focus on various aspects of metro rail infrastructure development, including project management, engineering design, and implementation support. RITES, renowned for its proficiency in railway and infrastructure projects, will contribute its technical knowledge and capabilities to enhance the efficiency and reliability of DMRC's metro network.

The surge in RITES' stock price reflects investor optimism and confidence in the potential benefits of this strategic collaboration. The partnership with DMRC not only highlights RITES' role in India's infrastructure development but also underscores its commitment to delivering high-quality engineering solutions that meet the nation's transportation needs.

RITES Limited, a Mini Ratna public sector enterprise under the Ministry of Railways, has a proven track record in executing diverse projects across transportation and infrastructure sectors. Its collaboration with DMRC is poised to strengthen both organisations' capabilities in advancing sustainable and efficient metro rail systems in India.

As RITES continues to expand its footprint in the infrastructure consultancy space, the partnership with DMRC is expected to unlock new opportunities for growth and innovation. Together, RITES and DMRC aim to set benchmarks in metro rail development, contributing to India's urban mobility landscape and enhancing commuter experience across major cities.

Real Estate

29 Jun 2026

Omaxe to Invest Rs 62 Billion in Hospitality Expansion

Omaxe has announced the launch of a dedicated hospitality business vertical with plans to develop 19 hotels across five states over the next four to five years as part of its strategy to strengthen recurring revenues and expand its integrated development ecosystem.The real estate developer proposes to invest approximately Rs 62 billion, subject to regulatory approvals and market conditions, to develop nearly 5 million sq ft of hospitality assets across high-growth urban centres, pilgrimage destinations and transit corridors.The proposed portfolio will be integrated with Omaxe's existing townsh..

Third Railway Line Between Tatanagar And Adityapur Likely By September

The third railway line between Tatanagar and Adityapur is expected to be commissioned by September as work on the corridor advances, according to railway sources. The project to add a fourth line on the busy route is progressing and has been allocated Rs 50.89 billion (bn) in funding. The allocation underscores the focus on increasing capacity and easing congestion on the corridor. Relevant timetables are being adjusted to integrate the new capacity into regular operations. Construction activity has involved track laying, formation work and signalling upgrades along strategic stretches, with m..

Indian Railways Approves Rs 2.7 bn Kavach Rollout in Odisha

Indian Railways has approved a Rs 2.7 billion (Rs 2.7 bn) plan to install the Kavach train collision avoidance system on 631 route kilometres in the East Coast Railway zone. The Ministry of Railways said the work will form part of a wider Kavach deployment programme that relies on an LTE based communication backbone rather than a standalone installation. The approval marks the latest stage in the steady expansion of the indigenous safety technology across the national network. The decision aims to enhance safety and reliability on corridors serving Odisha and adjoining areas. The project will ..