RITES zooms on getting Navratna status from Ministry of Railways
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RITES is currently trading at Rs. 492.90, up by 19.45 points or 4.11% from its previous closing of Rs. 473.45 on the BSE.
The scrip opened at Rs. 489.95 and has touched a high and low of Rs. 497.65 and Rs. 479.90 respectively. So far 137856 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 583.45 on 11-Sep-2023 and a 52 week low of Rs. 305.75 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 499.00 and Rs. 467.50 respectively. The current market cap of the company is Rs. 11755.57 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 16.70% and 11.10% respectively.
RITES has received Navratna status from the Ministry of Railways (Railway Board). The new status will help the company take decisions on large investments on their own, both within India and abroad. Navratna Companies have the freedom to invest an amount of up to Rs 1,000 crore without requiring explicit government approval.
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.
