Shares of RITES Ltd zoomed up to 14.60 per cent in Monday's trade to hit a high of Rs 764.45, halting their four-day losing run. The stock was last seen trading 13.49 per cent higher at Rs 757.05. At this price, it has gained 50.75 per cent on a year-to-date (YTD) basis.
The rail PSU recently informed exchanges that its Board will meet on July 31 (Wednesday) to consider and approve first-quarter (Q1 FY25) results and also for consideration of first interim dividend, if any, for the financial year 2024-25 (FY25).
Prior to this, the rail PSU secured a "major order" worth Rs 321.30 crore. "RITES has received the LOI for the work of Project Management Consultancy (PMC) on turnkey basis for Construction of New Government Medical College of 100 Student Capacity & 430 Bedded Hospital at Amravati, Maharashtra by Directorate of Medical Education & Research, Mumbai," it stated.
On the stock-specific front, RITES saw high trading volume on BSE today as around 4.24 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 1.77 lakh shares.
Turnover on the counter came at Rs 31.06 crore, commanding a market capitalisation (m-cap) of Rs 17,852.03 crore.
The counter was trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 56.20. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company's stock has a negative price-to-equity (P/E) ratio of 35.30 against a price-to-book (P/B) value of 6.39. Earnings per share (EPS) stood at 18.90 with a return on equity of (RoE) 18.11.
RITES, formerly known as Rail India Technical and Economic Service Ltd, is a leading player in the transport consultancy and engineering sector in India. It has diversified services and geographical reach.
The company has undertaken projects in more than 55 countries in Asia, Africa, Latin America, South America, and Middle East region. It is a 'Navaratna' public sector undertaking (PSU) under the Ministry of Railways.