Richa Industries has received approval from the Research, Designs and Standards Organizations (RDSO) of the Ministry of Railways for fabrication and supply of steel bridge griders of the Indian railways.
The registration in the approved list of RDSO will be valid for two years from now.
The RDSO approval has given room to Richa Industries to enter into new segment. With the help of this approval, Richa is now eligible to participate in tenders of Indian railways which is an initial step to venture into new segment.
Sandeep Gupta, joint managing director, Richa Industries said, "Getting RDSO approval is indeed a great achievement for us. This approval is an endorsement for Richa's commitment to quality and indicates our potential and world-class capabilities. Besides, the railways have an aggressive plan for major developments in the sector and lots of projects coming up. Work in partnership, Richa's expertise will support in the development in a major way."
Shares of the company gained Rs 3, or 9.93%, to trade at Rs 33.20. The total volume of shares traded was 107,722 at the BSE (11.48 a.m., Friday).