RITES shares zoomed over 7% to their intraday high on the National Stock Exchange on July 2, today, after the company announced that it has secured back-to-back orders.
RITES-Aryan joint venture bagged an order from South Western Railway for the redevelopment including civil works, signal and telecommunication works and electrical general services at Tumakuru Station. As the order is received by the joint venture, RITES’ share in the said 540-day contract is of Rs 37.81 crore, excluding goods and services tax.
Another order pertains to supply of two fully overhauled ALCO locomotives for deployment in Zimbabwe, Mozambique and Botswana. The total value of the nine-month contract is $3.6mn, and the company bagged it from African Rail Company.
At its intraday high of ₹299.80 on the NSE today, the stock was nearly 25% lower than the 52-week high level mark, while 56% above its 52-week low level, which it touched in March this year. The stock has lost more than 13% in the last one year, but has gained just 3% in 2025 so far. The stock has gained 8% in the last one month.
By 11:04 am on July 2, 1.86 crore shares have changed hands on the NSE today and the total traded value for the said volume was ₹550.30 crore, according to the data available on NSE’s website. The company’s market capitalisation was recorded at ₹14,249.9 crore.
The company’s net profit rose over 5% to ₹132.71 crore in the quarter ended March 2025 as against ₹126.10 crore during the year-ago quarter. Sales declined over 4% to ₹615.43 crore in the March quarter as compared to ₹643.25 crore during the year-ago quarter.
For the full financial year ended March 2025, its net profit declined 15.5% to ₹384.80 crore as against compared to ₹455.40 crore a year ago. Its sales dropped near 10% to ₹2217.81 crore in FY25 as against ₹2452.85 crore a year ago.
