The railway PSU RITES has emerged as the lowest bidder in a tender floated by the Bangladesh Railway, the company said in an exchange filing. The estimated value of the project is over $111 million or more than ₹900 crore.

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The order pertains to the procurement of 200 broad gauge passenger carriages for the Bangladesh Railway. The time period of the order has not been specified yet.

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Earlier in August, the company emerged as the lowest bidder in a tender for a ₹65.4 crore project floated by the Indian Railways. The order pertained to service testing and inspection of rails for a period of five years with an option of a one-year extension.

The shares of the company are trading over a percent in the green, up after falling for two straight sessions. The shares have fallen in five out of the last 10 trading sessions. The stock has gained over 38 percent in the past six months and nearly 42 percent in 2023 so far.

The stock had hit a 52-week high of Rs 584 per share on September 11 and a 52-week low of Rs 305.6 on December 26.

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