RITES rises on emerging as lowest bidder in tender floated by Railway Board
Rites is currently trading at Rs. 483.00, up by 9.25 points or 1.95% from its previous closing of Rs. 473.75 on the BSE.
The scrip opened at Rs. 480.95 and has touched a high and low of Rs. 488.90 and Rs. 478.30 respectively. So far 25236 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 509.80 on 26-Jul-2023 and a 52 week low of Rs. 277.00 on 24-Aug-2022.
Last one week high and low of the scrip stood at Rs. 490.85 and Rs. 443.05 respectively. The current market cap of the company is Rs. 11384.30 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 18.69% and 9.11% respectively.
RITES has been emerged as lowest bidder (L-1) for Testing & Inspection of Rails as per IRS T-12 2009 for Indian Railways, in the tender invited by Railway Board. The estimated order value is around Rs 65.4 crore.
RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.
