RITES shares rallied 5% in trade on February 26 after IIT Bhubaneswar appointed the company as the PMC for the development of a permanent campus in Odisha. At 1.30pm, the RITES stock was trading higher at Rs 796.45 on the NSE, higher by 4.85% from the previous session’s closing price. The estimated project cost, including the PMC fees, is estimated at Rs 414 crore, excluding GST.