RITES Shares Jump Up To 3% on MoU with Hindustan Copper for Critical Minerals Supply Chain

RITES shares surged as much as 3% on the National Stock Exchange on June 9 to its intraday high of ₹308.90 per share after the engineering consultancy firm announced the signing of a Memorandum of Understanding with Hindustan Copper to jointly develop a rapid, reliable, and sustainable supply chain of metals and minerals, including critical minerals in India and overseas. Hindustan Copper shares rose up to 2% on the NSE today.

RITES said that the aforementioned partnership will focus on exploration, extraction, refining, and production activities by leveraging the technical and financial strengths of both organisations. “The collaboration includes participation in mineral block auctions and development of mining infrastructure,” the company had said in an exchange filing.

As part of the agreement, RITES will provide end-to-end consultancy and logistics solutions, including project planning, transport infrastructure development, multimodal transport planning, and rolling stock support. This will strengthen Hindustan Copper’s mining operations.

At its intraday high, the stock more than 22% below its 52-week high level, while over 61% higher than its 52-week low level, which it touched in March this year. The shares have lost over 7% in the last one year, but gained nearly 41% in the last one month. The stock has gained 6% in 2025 so far.

For the March quarter, RITES posted a consolidated operating revenue of ₹615 crore, marking an over  4% decline from ₹643 crore in the same period last year. The drop was primarily attributed to reduced income from quality assurance services, a slowdown in turnkey projects, and minimal export activity. Despite the revenue dip, the company’s EBITDA rose 6% on year to ₹189 crore, while its net profit grew over 3% on year to ₹141 crore.

For the full fiscal year ended March 2025, operating revenue stood at ₹2,324 crore, down from ₹2,539 crore in FY24 and net profit fell to ₹424 crore from ₹495 crore in the previous fiscal. However, the management remains optimistic about FY26, expecting a rebound in exports and turnkey business.