Rites

RITES share price: 'Navratna' stock soars 8% on MoU with Etihad Rail

The MoU aims to explore cooperation and synergise strengths in developing railways and related infrastructure services in the UAE and wider region

Our focus is on being a future ready company, says Rites CMD Mithal

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 ...

RITES, DVC join hands for innovation in rail infra works; stock rises 3%

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

RITES gains 6% on signing MoU with Delhi Metro; share soars 79% in 1 yr

RITES Ltd has signed a MoU with DMRC for collaboration in comprehensive operations and management projects of Metro Railway Systems in India and abroad

Rites shares gain on MoU with Eastern Railway's largest shed facility

The share price surge followed Rites partnership announcement with Eastern Railway's Andal Diesel Shed. Andal Diesel Shed is the largest shed in Eastern Railway with a holding of 138 locomotives

TBI Corn, IRB Infra, Mastek, Rites among seven stocks to watch on June 07

Stocks to watch on June 07: TBI Corn's initial public offering (IPO) is set to list on NSE SME on Friday, June 07, 2024

RITES Q3 results: Profit drops 13% to Rs 129 cr, income at Rs 699 cr

RITES Ltd on Thursday reported 12.5 per cent drop in consolidated profit at Rs 128.78 crore for the quarter ended December 31, 2023. The company had posted a profit of Rs 147.18 crore for the year-ago period, RITES said in a filing to BSE. Income dropped to Rs 699.85 crore from Rs 703.38 crore in the year-ago period, the filing said. The sequential progress is in line with the direction that we had strategised in the beginning of the FY, in having received an export order after a long gap, sustained growth in our project consultancy revenue and steady growth in our EBITDA," RITES Ltd Chairman and Managing Director Rahul Mithal said. RITES Ltd, an enterprise under Ministry of Railways, is a multidisciplinary engineering and consultancy organization, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.

RITES enters into pact with Oil India to develop Duliajan Township in Assam

Transport infrastructure consultancy and engineering firm RITES Ltd has signed a pact with Oil India Ltd to develop Duliajan Township in Assam as a mini smart city, according to an exchange filing. As part of the Memorandum of Understanding (MoU), RITES will undertake an extensive study, review the existing system and prepare a suitable, feasible design to develop the township which is managed and operated by Oil India. The collaboration which aims at reviving the township, involves infrastructure works such as review of existing drainage system and design, detailed project report (DPR) for integration of solid waste management system, review of road and traffic network and plan for parking facilities, the company said. RITES will offer its expertise in buildings, horticulture and beautification works. RITES Ltd shares dropped by 1.7 per cent to close at Rs 474 on BSE.

NHPC signs pact with RITES to construct railway siding for 2,880 MW Dibang

State-owned hydro power giant NHPC has inked an initial pact with RITES to construct railway siding for a 2,880 MW Dibang multipurpose project in Arunachal Pradesh. "NHPC signed an MoU with RITES for Construction of Railway Siding at Pasighat (Arunachal Pradesh) for NHPC's 2,880 MW Dibang Multi Purpose Project at NHPC Corporate Office on 21st August 2023," a company statement said. According to the statement, the agreement was signed by General Manager (Civil) Dibang and Executive Director, RITES, in the presence of Biswajit Basu, Director (Projects) NHPC at corporate office of NHPC. NHPC's total installed capacity is 7,097.2 MW of renewable power (including wind and solar) through its 25 power stations, including 1,520 MW through its subsidiary. RITES Ltd is a leading player in the transport consultancy and engineering sector in India, having diversified services across sectors and geographical reach. The strategic partnership between NHPC and RITES complements the expertise of b

Rail stocks may chug along till budget; book profit selectively: Analysts

Railway stocks: In the upcoming budget, the railways has reportedly sought gross budgetary support (GBS) of Rs 1.5-1.8 trillion over the Rs 1.37 trillion figure earmarked during Budget 2022-23

Railways ferries 124-mt freight in Nov, clocks 5% rise since last year

Officials peg FY23 freight between 1500-1550 mt

RITES Q2 PAT drops 20% to Rs 140 crore, income declines to Rs 684 crore

RITES Ltd, a public sector transport consultancy and engineering firm, has reported 19.6 per cent decline in consolidated profit after tax (PAT) at Rs 140.20 crore for September quarter 2022-23. The company had logged a PAT of Rs 174.49 crore in the year-ago period, RITES said in a BSE filing on Friday. Income dropped to Rs 684.30 crore from Rs 788.85 crore in the year-ago period. "The trend of sequential growth as also seen vis-a-vis H1 (April-September) of the previous year continues despite a dip in the export stream of revenue. "The results reiterate our core strength and the USP (unique selling point) of having a diversified business portfolio," Chairman and Managing Director Rahul Mithal said. RITES is a miniratna public sector enterprise and a leading player in the transport consultancy and engineering sector in the country.

Rail Vikas Nigam, RITES touch all-time highs; zoom up to 62% in 3 months

Shares of RITES were up 6 per cent at Rs 433.20 in intra-day trade, surging 15 per cent in the past two days, while RVNL surged 9 per cent to surpass its previous high of Rs 44.75

RITES surges 9% on order worth Rs 499 crore from Bangalore Metro Rail

The company has secured a new business order for construction of depot-cum-workshop. RITES will have 51% share in the order

Power Mech-RITES joint venture bags Rs 499.41 cr order from BMRCL

Power Mech Projects Ltd on Thursday said its joint venture with RITES has received an order worth Rs 499.41 crore from the Bangalore Metro Rail Corporation Ltd (BMRCL). The project has been awarded to RITES- PMPL. According to a regulatory filing, the order is for construction of Depot cum workshop at Challaghatta in Reach-2 Extension of Bangalore Metro Rail Project, Phase-2. "The company has received a Letter of Award (LoA) worth Rs 499.41 crore from Bangalore Metro Rail Corporation Ltd (SMRCL)," the filing said.

Expect breakthrough in Vande Bharat export efforts: RITES CMD Rahul Mithal

'From the last lot of coaches and diesel electric multiple units exported to Sri Lanka, we are expecting a revenue of close to Rs 100 crore'

Stocks to Watch: Wipro, Paytm, Indian Oil, Rites, RIL, Persistent Systems

Shares of Indian Oil Corp will be on radar as the company has bought 3 million barrels of Russian Urals from trader Vitol for May delivery.

BEML, RITES ink pact, to bid for Metro systems, export of rolling stock

BEML Limited has signed a Memorandum of Understanding (MoU) with RITES Limited, a leading transport infrastructure consultancy and engineering company, to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock. As part of the MoU, RITES will provide expertise in design, engineering, marketing and any other support that may be required for tapping domestic and overseas opportunities while BEML will be responsible for manufacturing of customised metro coaches and rolling stock a BEML statement said. "The MoU will allow both companies to leverage each other's expertise and technologies to opitimise operations and expand on a global level," it said. It would enable BEML and RITES to jointly bid and provide the entire spectrum of services from design, manufacture to operations & maintenance for the existing and upcoming Metro systems as well as export of rolling stock and related services. "The collaboration will not only create a platform

Railway board shuts down RLDA-RITES-Ircon JV on Sanjeev Sanyal's advice

Station modernisation and redevelopment goes back to Zonal Railways

RITES bags 'highest ever' Rs 4,027-cr order from Ministry of Railways

RITES is currently executing doubling project at Gooty-Dharmavaram and 3rd line project at Annupur-Pendra Road of approximately 140 km, which are near completion.