Rites has been executing a project of Indian Railways for setting up of wagon workshop at Dalmianagar for which the initial contract cost was Rs 890 million. The enhanced scope and revision in estimates has resulted in additional contract value of Rs 4.36 billion.

The work is scheduled to be started in the last quarter of this financial year.

The stock had underperformed the market over the past one month till Sep. 18, 2018, falling 18.02% compared with the Sensex's 1.73% decline. It underperformed the market in past one quarter, gaining 0.00% as against 4.90% rise in the Sensex.

Shares of the company gained Rs 5.95, or 2.40%, to trade at Rs 253.40. The total volume of shares traded was 77,852 at the BSE (11.51 a.m., Wednesday).