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RITES receives LoI worth $20.60 million from ICVL

27 Jan 2026 Evaluate

RITES has received Letter of Intent (LoI) worth around $20.60 million from ICVL, Mozambique, for the supply of New Cape Gauge Diesel Electric Locomotives with provision for preventive maintenance services including consumable spares. The supply is to be completed within 15 months and the maintenance period will be 24 months.

RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.

Rites Share Price

210.00 1.65 (0.79%)
16-Jun-2026 16:59 View Price Chart
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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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