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rites share price slips over 6%; bags consulting work of rs 60 crore

Monday, Mar 16 2020 11:58AM

RITES share price slipped more than 6 percent intraday on March 16 amid sell-off seen in the overall market.

The company secured a consulting work award with fee income of Rs 60 crore from the government of Kerala for conducting an independent quality audit for Kerala Infrastructure Investment Fund Board (KIIFB) projects.

The period of execution is likely to span over 21 months.

At 11:10 hrs, RITES was quoting at Rs 267.55, down Rs 0.70, or 0.26 percent on the BSE.

The share touched its 52-week high of Rs 331 and its 52-week low Rs 180.84 on 29 January 2020 and 16 May 2019, respectively.

Currently, it is trading 19.17 percent below its 52-week high and 47.95 percent above its 52-week low.

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