Rites

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

Officials peg FY23 freight between 1500-1550 mt

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.

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

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

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.

'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'

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 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

Station modernisation and redevelopment goes back to Zonal 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.

The RSI has indicated a trend reversal, showing strength, and has signaled a buy for RITES

The stock of Adani Power has improved the bias with decent volume participation

PSU stocks like IRCTC, BPCL, RCF, and RITES have not seen aggressive selling pressure. A small recovery may see a strong bullishness going forward

Gets board nod to buy back up to 197.8 mn quity shares; thermal power giant registers 4.8% growth in profit in Q2

V G Suresh Kumar will be RITES nominee on IRSDC board; RITES' induction has brought IRSDC additional capital of Rs 48 crore

Transport Infrastructure Consultancy and Engineering firm RITES Ltd on Friday said its board has approved buyback of 9.6 million shares with repurchase amount not exceeding Rs 257 crore

The Noida Authority on Thursday roped in state-run RITES for technical consultancy for the upcoming heliport project in the city, officials said

The MoU has been renewed for five years

According to sources, a shareholder agreement was signed on May 21 and the proposal will be taken up for approval of the shareholders