Ritco Logistics secures new contracts worth over Rs 120 crore across transportation and warehousing verticals
By Aditya Bhagchandani Published on June 4, 2025, 11:31 IST
Ritco Logistics Limited has announced a robust set of business wins in its monthly update filed with the stock exchanges on June 3, 2025, reinforcing its leadership position in India's integrated logistics sector.
In a significant development, the company secured a major transportation contract worth Rs 85 crore from Jindal Steel and Power Limited. The deal involves transporting steel products from JSPL's Angul, Odisha plant to destinations across the country. In addition, Ritco landed a Rs 36 crore logistics contract from NTPC Limited for the movement of fly ash in Jharkhand, contributing to NTPC's sustainability initiatives.
The company has also reported fresh contracts with clients such as SLR Metalics, VBL, and Agrotech, further expanding its footprint across the metals and FMCG sectors.
On the 3PL and warehousing front, Ritco has entered a long-term agreement with MRPL to manage logistics operations across hubs like Morbi, Kheda, and Vapi. The company highlighted this as a key move to strengthen its end-to-end integrated logistics solutions portfolio.
Ritco also shared updates on its IT infrastructure, noting the implementation of enhanced data encryption protocols and advanced Endpoint Detection and Response (EDR) for its ERP systems.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
14 minutes ago
- Miami Herald
India's First Bullet Train Reaches Major Milestone
India's Mumbai-Ahmedabad High-Speed Rail project reached a major breakthrough after completing more than 300 kilometers of viaducts. The MAHSR corridor, spanning 508 kilometers (315 miles), utilizes Shinkansen bullet trains from Japan as part of a testing partnership between the two nations. Newsweek reached out to Indian Railway, the corridor's owner, via email for comment. The MAHSR bullet train is India's largest transportation infrastructure project, and would reduce travel time from up to seven hours to just two hours between Mumbai and Ahmedabad, two of the most important cities in the Indian economy. India's success in high-speed rail, if realized, could signal an increase in competitiveness and the adoption of green mobility in large emerging economies. The NHSRCL reported that as of June 2025, more than 300 kilometers of elevated viaduct structures had been completed, using Full Span Launching Method and Span-by-Span engineering techniques. Fourteen river bridges, seven steel bridges, and five prestressed concrete bridges have now been completed. As a result, the project has entered a critical testing phase, with Japan beginning trials of the first Shinkansen bullet trains built for India. Indian-made trains, developed under the "Make in India" initiative, are currently undergoing initial tests at speeds up to 280 km/h, though the operational target upon project completion is 320 km/h (about 199 mph). The rolling stock is designed with reclining and swiveling seats, air conditioning, modern entertainment systems, and facilities for passengers with disabilities. The MAHSR was designed to be environmentally conscious, and it features over 300,000 noise barriers along its route. The initial cost per bullet train is estimated at Rs 27.86 crore, equivalent to approximately $3.2 million. Civil work has finished at six out of eight stations in Gujarat, while Mumbai's underground terminus at Bandra Kurla Complex is 75 percent excavated. Gujarat's component of the corridor is nearing operational readiness, though delays around Mumbai may halt future progress. An NHSRCL official, in a statement to TheTimes of India: "This project has pioneered the use of indigenously designed and manufactured equipment such as straddle carriers, launching gantries, bridge gantries, and girder transporters. "It marks a first for Indian infrastructure and reflects growing domestic expertise in high-speed rail construction, supported by technical collaboration with Japan." The MAHSR project is expected to commence partial operations in 2026 and launch the first passenger service in Gujarat by 2028, with full connectivity to Mumbai anticipated by 2030. Once completed, it is expected to contribute to India's climate goals by providing large-scale public transit capacity with zero direct emissions. Related Articles 'Doomsday Fish' Discoveries Spark Fears Of Impending Natural DisasterThe Intifada Is Already Globalized. Its Victims Must Unite | OpinionFour Airlines Announce Investment in the Future of Travel to IndiaGlobal Arms Race Warning Issued As Nuclear Warheads Increase 2025 NEWSWEEK DIGITAL LLC.
Business Upturn
5 hours ago
- Business Upturn
GHV Infra Projects receives Rs 546 crore road project in Mumbai from related group company
By Aditya Bhagchandani Published on June 6, 2025, 17:17 IST GHV Infra Projects Limited has announced the receipt of a significant work order valued at approximately Rs 546 crore (excluding GST) for strengthening and improving various roads in Mumbai, Maharashtra. The order was awarded by M/s. GHV (India) Private Limited, a related group company. The road construction project, which falls under domestic contracts, is expected to be completed within 24 months. The nature of the relationship between the two entities is noteworthy—Mr. Jahidmohmed H. Vijapura, deemed promoter of GHV Infra Projects, is also a Director and shareholder in GHV (India) Private Limited, the awarding company. Despite this association, the company confirmed that the order has been awarded on an arm's length basis. This work order is expected to enhance GHV Infra's execution pipeline and reinforce its position in the urban infrastructure segment, particularly in Maharashtra's capital. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
8 hours ago
- Business Upturn
ICICI Lombard shares surge 5% as reports suggest a hike in the third party motor premium
ICICI Lombard stock rose 5% after reports emerged that the Ministry of Road Transport and Highways is reviewing a proposal to increase motor third-party (TP) insurance premiums for FY26. As of 1:43 PM, the shares were trading 5.58% higher at Rs 1,982.20. According to a CNBC-TV18 exclusive, the Insurance Regulatory and Development Authority of India (IRDAI) has recommended an average increase of 18% in motor TP premiums, with suggestions of a 20–25% hike for certain vehicle categories. Advertisement Motor third-party insurance is a mandatory policy for all vehicle owners in India. However, premiums have remained unchanged for the past four years despite rising claims and mounting losses for insurers. In FY25, motor TP insurance accounted for nearly 60% of total motor insurance premiums and 19% of the overall general insurance premium base. Sources told CNBC-TV18 that the Road Ministry is expected to take a final decision within the next two to three weeks. A draft circular outlining the revised premiums will be issued once the ministry grants approval. Analysts suggest that a 20% hike in TP premiums could improve insurers' combined ratio by around 4–5%, offering some relief to the sector. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
