Rites Ltd

The rise in RITES share price came after the company announced that it has secured an order worth $9.7 million from the Guyana government

Rites share price: The trading volume of nearly nine lakh Rites shares was higher than the two-week average quantity of 67,000 shares on the BSE

The rise in RITES share price came after the company announced that it has secured an order worth Rs 297.67 crore from the Ministry of External Affairs, Government of India

The contract is priced at Rs 148.25 crore and has to be executed within 23 months

Stocks to Watch, Dec 6: From rate sensitives to Vodafone Idea (Vi) here is a list of stocks to remain in focus today

At 10:20 AM, the BSE PSU index, the top gainer among sectoral indices, was up 3.5 per cent at 19,856, as compared to the 1.5 per cent rise in the BSE Sensex

The major order for electrification of Lumding - Badarpur section was received by the company in June 2021 and was priced at Rs 288.44 crore

The rise in RITES share price came after the company announced that it has secured an order worth Rs 453.99 crore from Karnataka Mining Environment Restoration Corporation

RITES Ltd, an infrastructure, consultancy and engineering firm under the Railway Ministry, has focussed on being a future ready firm with several initiatives centred around information technology and artificial intelligence, Rahul Mithal, the Chairman and Managing Director of the company said in a press statement. According to the statement, in the 50th Annual General Meeting (AGM) of the company held on September 12, Mithal said that over the past five decades, RITES has grown from humble beginnings to being granted the prestigious Navratna status this financial year, committed to delivering consistent results and creating value for stakeholders. With our focus on being 'Future Ready', RITES has vigorously pursued its #ITReady, #SkillReady, and #AIReady initiatives, Mithal added. During the AGM, the shareholders approved resolutions such as the adoption of Audited Financial Statements of the company, 1:1 Bonus Equity Share for shareholders and Rs 5/share as a final dividend for ...

The rise in share price came after the company announced that it has joined hands with Damodar Valley Corporation (DVC), for innovation in railway infrastructure works

Rail PSU looks to continue bagging an order a day

State-owned RITES Ltd on Tuesday reported a marginal fall of 1.59 per cent in its consolidated net profit to Rs 136.67 crore for the March quarter on account of fall in revenues. It had posted a profit of Rs 138.89 crore for the year-ago period, the company said in an exchange filing. The company's total income fell to Rs 667.68 crore in the January-March period from Rs 705.63 crore in the same period a year ago. Its expenses were at Rs 483.32 crore, down from Rs 514.17 crore in January-March FY23. The board of the company has declared a dividend of Rs 5 for the financial year 2023-24. RITES, under the Ministry of Railways, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.

Shares of Indian railways related firms have gained up to 8% in the last two days on back of order wins, and sentiment booster from Indian minister talk.

On the broader market outlook, Vinay Rajani the technical & derivative analyst of HDFC Securities suggests to keep a stop at 19,635 on all long positions in the Nifty.

The US, Saudi Arabia, India, and other nations are discussing a possible infrastructure deal that could reconfigure trade between the Gulf and South Asia, linking Middle Eastern countries by railway

On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could trade in the range of 19,612 - 19,819 in the near term.

Transport infrastructure consultancy and engineering firm RITES Ltd on Thursday said its profit after tax increased by 6.5 per cent to Rs 138 crore in the January-March 2023 quarter. The company had posted a profit after tax (PAT) of Rs 130 crore in the year-ago quarter, RITES said in a statement. Operating revenue, excluding other income, stood at Rs 687 crore in the quarter under review, 10.3 per cent down from Rs 766 crore. The fall can be attributed to low exports, said the statement. RITES is a Miniratna Schedule 'A' Central Public Sector Undertaking under the Ministry of Railways. The board of directors has recommended a final dividend of Rs 6 per share amounting to Rs 144 crore for FY23, which is 60 per cent of the paid-up capital. Upon approval, the total dividend payout ratio attributed for FY23 will stand at 92.8 per cent. Rahul Mithal, Chairman and Managing Director, RITES Limited, said, "Highest-ever consultancy revenue in FY23 underscored the fact that consultancy .

RITES has entered into a pact with IIT-Kanpur for exploring opportunities in the areas of sustainability and carbon-related works like carbon neutrality in sectors such as steel and power

IRCTC has consistently faced resistance around the Rs 800-mark; break below Rs 660 can further weaken the stock, chart indicates.

So far in 2022, Titagarh Wagons and Rail Vikas Nigam have zoomed 87 per cent and 80 per cent, respectively. Texmaco Rail and Rites too logged smart gains. IRCTC is the sole underperformer.