RITES surges on receiving letter of acceptance from Bangladesh Railway
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Rites is currently trading at Rs. 701.65, up by 14.90 points or 2.17% from its previous closing of Rs. 686.75 on the BSE.
The scrip opened at Rs. 704.00 and has touched a high and low of Rs. 713.30 and Rs. 700.05 respectively. So far 82113 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 826.15 on 27-Feb-2024 and a 52 week low of Rs. 365.00 on 06-Jul-2023.
Last one week high and low of the scrip stood at Rs. 713.30 and Rs. 666.05 respectively. The current market cap of the company is Rs. 16882.41 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 15.27% and 12.53% respectively.
RITES has received a letter of acceptance (LoA) from Bangladesh Railway in connection with supply of 200 Broad Gauge (BG) Passenger Carriages to Bangladesh Railway including Drawing, Parts Catalogue, Capital & Maintenance Spares, Overseas Training, Study Tour, Service Engineers, De-processing and Commissioning etc. The said order is expected to be executed in 36 months. Broad consideration or size of the order is $111,263,998.22.
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.
