RITES, RailTel & Jupiter Wagons Rally Up to 7% – What’s Fueling the Railway Stocks Surge?

RITES Ltd Share Price: Transport infrastructure major RITES Ltd., formerly Rail India Technical and Economic Service Limited, led the rally in railway stocks after the recent surge of contract announcements and centre's focus on infrastructure development.

The share price of RITES Ltd. surged as much as nearly 7 per cent to hit the seven-month high mark on June 5, Thursday after it bagged an order worth Rs 28.5 crore. This comes after the public sector undertaking emerged as the lowest bidder for a tender floated by Gujarat Urban Development Co., according to an BSE Sensex filing on Thursday.

Meanwhile, the share price of RailTel Corporation of India rose 4.30 per cent at Rs 461.75, Jupiter Wagons Ltd (JWL) rose as much as 3.53 per cent at Rs 414.65, and Texmaco Rail gained 3.55 per cent to hit an intraday high of Rs 178.75. 

Coming to order attained by RITES Ltd, the tender was for WSS/UGD/STP projects under Amrut 2.0 and Swarnim Jayanti Mukhya Mantri Shaheri Vikas Yojana under GUDC for urban local bodies of Gujarat, as per the exchange filing.

The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Co., as per the requisite requirements mentioned in the tender documents.

On May 28, the company had entered into a memorandum of understanding (MoU) with Shree Cement Ltd. for development of Rail Infrastructure and allied services, according to an exchange filing.

The stock rose as much as 6.92 per cent to Rs 316 apiece, the highest since Oct. 17, 2025. It pared gains to trade 3.49 per cent higher at Rs 305.85 per share at 10:05 a.m. This compares to a 0.51 per cent gains in the NSE Nifty 50.

It has risen 4.89 per cent per cent on a year-to-date basis, and 0.70 per cent in the last 12 months. Total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 57.16.

The average 12-month consensus price target implies a downside of 4 per cent.

As of 11:55 am on Thursday, the share of RITES Ltd. was trading 4.91 per cent higher at Rs 309.90 apiece.