Page 2 - Rites Ltd

RITES up on Rs 454-cr order from K'taka Mining Environment Restoration Corp

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

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

Gurgaon's Rites to go aggressive on global export and consultancy tenders

Rail PSU looks to continue bagging an order a day

RITES Q4FY24 results: Net profit marginally declines to Rs 137 crore

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.

Rail-related stocks in demand for second straight day; RailTel, RVNL lead

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.

Buy Rites, Gujarat Alkalies for up to 16% rally, recommends HDFC Securities

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.

Ircon zooms 15%, IRFC m-cap hits Rs 1 trn: Why are railway stocks buzzing?

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

Buy GMDC, Rites for gains up to 16%, recommends HDFC Securities

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.

RITES profit after tax increases 6.5% to Rs 138 cr in March quarter

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 inks pact with IIT-Kanpur for opportunities in sustainability sector

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

Trading strategies in IRCTC, other rail-related stocks amid stake sale buzz

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

RVNL, Rites, IRCTC: Rail-related stocks on fast track, can rally up to 16%

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.

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.

Nifty500: 248 stocks have more upside; Sun Pharma, RITES 'overbought'

Sun Pharmaceutical Industries is the only other stock among the Sensex 30 and Nifty 50 that trades in the overbought category, technically.

Manyavar, Cipla: 11 stocks that could hold ground even if market corrects

Amid the recent market fall,11 stocks hit record highs. Whenever any stock exhibits reluctantance to weaken despite a pessimistic bias, it means the underlying trend possesses a robust momentum.

RITES hits all-time high on healthy outlook; stock climbs 15% in 3 days

The stock of state-owned engineering, designing & construction company traded higher for the third straight day, surging 15 per cent, during the period

RITES PAT rises 86% to Rs 145 crore in Q1FY23; operating revenue up by 70%

EBITDA and profit after tax stood at Rs 179 crore and Rs 145 crore against Rs 97 crore and Rs 78 crore

Stocks to Watch: SBI, HDFC Bk, RITES, Reliance, PNB, Mining, South India Bk

Stocks to Watch Today: Banks and rate sensitive related shares are likely to be in focus today as RBI announces the outcome of its three-day policy meet this morning.

RITES hits pre-Covid revenue levels in FY22 with 21% jump on strong export

RITES Q4 results 2022: Operating revenue, excluding other income, went up by 21.5 per cent to Rs 744 crore in Q4 FY22