New Delhi, July 2 -- RITES share price jumped over 7% in early trade on Wednesday after the company announced bagging of two major orders. The PSU railway stock gained as much as 7.43% to Rs.299.95 apiece on the BSE.

The state-run railway infrastructure company, RITES said that it has received the Purchase Order from African Rail Company for supply of two fully overhauled ALCO locomotives for deployment in Zimbabwe, Mozambique and Botswana.

The order includes supply and commissioning of the overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives fitted with new Cape Gauge Bogies, Traction Motors, Control System, Air braked, etc. overhauled at nominated facility and warranty support with the deputation of RITES technical team, ...