RITES is one stock which is so close to hitting a new high. The stock which had closed at Rs.282.10 yesterday, opened today at Rs.288 and went on to Rs.290.10, very close to its 52-week high of Rs.292.90.

The stock is up as it has emerged as the lowest bidder, LI, for a tender put out by the Railway Board for railway electrification work on a turnkey basis.

The order is valued at Rs.1741 crore.

The tender comprises of two packages - 779 RKM on Southern Western Railway and 762 RKM on Northeast Frontier railways.