RITES hits new high; zooms 70% against issue price

In past one month, shares of RITES have rallied 61% against 4% rise in the S&P BSE Sensex.

Shares of railways consultancy firm RITES hit a new high of Rs 315 per share on the BSE, rising 10% on the back of heavy volumes. The state-owned firm was trading at its highest level since listing on July 2, 2018. It has rallied 70% against its issue price Rs 185 per share.

The trading volumes on the counter surged more than three-fold with a combined 5.63 million equity shares 2.8% of total equity changed hands on the BSE and NSE.

In past one month, shares of RITES rallied 61% against 4% rise in the S&P BSE Sensex.