07 Mar 2025

RITES Shares Surge 4.04%, Secures Major Railway Contract

RITES is currently trading at RS. 221.40, marking an increase of 8.60 points or 4.04% from its previous closing of RS. 212.80 on the BSE.

The stock opened at RS. 216.35 and recorded a high of RS. 224.80 and a low of RS. 214.00 during the session. A total of 1,83,499 shares have been traded so far.

RITES, a BSE Group 'A' stock with a face value of RS. 10, hit a 52-week high of RS. 398.50 on 08-Jul-2024 and a 52-week low of RS. 192.30 on 03-Mar-2025. Over the last week, the stock ranged between RS. 224.80 and RS. 192.30. The company's current market capitalization stands at RS. 10,638.16 crore.

The company’s shareholding structure includes 72.20% held by promoters, while institutions and non-institutions hold 12.17% and 15.63%, respectively.

In a significant development, RITES has received a Letter of Acceptance (LoA) from South Central Railway for a contract worth RS. 27.96 crore (excluding GST). The project involves conducting a final location survey, DPR preparation, alignment design, traffic survey report, ROR calculations, detailed estimates, and EPC document preparation for high-speed elevated rail corridors between Hyderabad-Bengaluru and Hyderabad-Chennai. The survey will employ modern techniques like Airborne or Terrestrial LIDAR, with completion expected within eight months.

RITES is a multi-disciplinary consultancy organization specializing in transport, infrastructure, and related technologies. It offers a wide range of services and emphasizes technology transfer to client organizations.