Fresh orders likely to drive RITES.

RITES has signed a contract for supply of two additional fully air-conditioned diesel multiple unit train sets for $22.4 million (₹160 crore) with the Ministry of Transport and Civil Aviation, Government of Sri Lanka.

RITES has just completed supply of six DMU coaches to Sri Lanka with special features and amenities, under a previous contract, it said. The supply under the new contract will be done in FY 2020-21, it further added. The PSU stock may react positively.

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