Here's why this state-owned railway stock climbed 4% in trade on March 18

Shares of the state-owned civil construction company RITES were trading higher on the exchanges on Tuesday, March 18, 2025. RITES share price climbed 3.84 per cent to an intra-day high of Rs 212.25 per share on the BSE during intra-day deals on Tuesday.

 

The upward movement in RITES' share price came following the news that the company had received an addendum to the Contract Agreement, whereby Ntokoto Rail Holdings has awarded additional work for the supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives fitted with new Cape Gauge Bogies, Traction Motors, Control System, Air Brakes, etc., overhauled at a nominated facility, with on-site warranty support for one year.  ALSO READ | Stock Market LIVE: Zomato, Asian Paints, M&M top gainers on Sensex; Nifty above 22,700; SMID rise

 

According to an exchange filing made by the company, the value of the order has been revised to USD 10.80 million (CIF) from USD 5.40 million (CIF).

 

RITES Limited is a Navratna Public Sector Enterprise under the Ministry of Railways. The company was established on April 26, 1974, and provides engineering and consultancy services. RITES offers services in the transport and infrastructure sectors, including railways, highways, and airports. The company has served clients in over 55 countries and is a wholly-owned subsidiary of Indian Railways.

 

RITES has a market capitalisation of Rs 10,121.52 crore on the NSE as of March 18, 2025. The civil construction company is also a constituent of the BSE 500 index.

 

RITES' share price has dropped nearly 38 per cent in the last six months and around 33 per cent in the last one year. The company's shares have a 52-week range of Rs 398.50 to Rs 192.30 apiece on the BSE.  ALSO READ | What sparked 9% rally in Ircon International share on March 18? Details

 

RITES shares continued to trade higher on the bourses. At around 12:36 PM on Tuesday, the company's shares were trading at Rs 210.15 apiece, up 2.81 per cent from the previous close of Rs 204.40 on the BSE.

 

At the same time, the benchmark equity indices were also trading in positive territory. The BSE Sensex was up by 703 points, or 0.95 percent, at 74,873 levels, while the Nifty 50 traded 220 points, or 0.98 per cent higher, at 22,728 levels.