25 Jun 2025

RITES Shares Gain Nearly 2%; Secures LoI for Gujarat Urban Development Project Worth RS. 28.50 Crore

RITES is currently trading at RS. 281.35, up by 5.50 points or 1.99% from its previous closing of RS. 275.85 on the BSE.

The stock opened at RS. 281.90 and has touched an intraday high of RS. 283.50 and a low of RS. 279.00. A total of 56,464 shares have been traded so far on the counter.

A BSE group 'A' stock with a face value of RS. 10, RITES hit a 52-week high of RS. 398.50 on July 8, 2024, and a 52-week low of RS. 192.30 on March 3, 2025. Over the past week, the stock traded between a high of RS. 283.50 and a low of RS. 266.35. The company’s current market capitalization stands at RS. 13,529.00 crore.

Promoter shareholding in the company stands at 72.20%, while institutional investors hold 12.00% and non-institutions account for 15.80%.

In a recent development, RITES has received a Letter of Intent (LoI) from Gujarat Urban Development Company for the "Appointment of TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY for ULBs of Gujarat." The total contract value is RS. 28.50 crore (excluding GST), with a project duration of 60 months.

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