RITES shares in news today on fresh order win, check details
RITES stock rallied 2.99% to Rs 296 on Friday against the previous close of Rs 287.40.
- Dec 9, 2024,
- Updated Dec 9, 2024 9:08 AM IST
Shares of RITES Ltd are in news today after the company RITES said has secured an order worth $97.13 million from the Ministry of Public Works, Government of the Co-operative Republic of Guyana. The order is for the upgradation of the Palmyra to Moleson Creek Highway.
RITES stock rallied 2.99% to Rs 296 on Friday against the previous close of Rs 287.40. Market capitalization of the company climbed to Rs 14,225 crore in the previous session. RITES shares have a one-year beta of 1.5, indicating high volatility during the period.
"RITES has emerged as top scorer (H-1 bidder) based on QCBS evaluation for Provision of Engineering Services for Design- Build-Finance: Upgrading of the Palmyra to Moleson Creek Highway- Lot 1-3 from Ministry of Public Works, Government of the Co-operative Republic of Guyana. The letter of acceptance shall be issued after due process of scrutiny /evaluation by the Ministry of Public Works, Government of the Co-operative Republic of Guyana," said RITES ltd.
In terms of technicals, the relative strength index (RSI) of RITES stands at 55.4, signaling it's trading neither in the overbought nor in the oversold zone. RITES shares are trading lower than the 50 day, 100 day, 150 day, 200 day but higher than the 5 day, 10 day, 20 day and 30 day moving averages.
The order will be executed over the next 60 months.
On December 6, the company announced it has been appointed as Project Management Consultant (PMC) for Phase II Campus of Indian Institute of Management Raipur (Chhattisgarh) Project on cost plus basis from Indian Institute of Management Raipur (IIM Raipur.
RITES Limited, a subsidiary of Indian Railways, provides engineering services. The company offers transport infrastructure consultancy, railway inspection, rolling stock leasing and maintenance, airport construction management, industrial and electrical engineering, and other related services.
Shares of RITES Ltd are in news today after the company RITES said has secured an order worth $97.13 million from the Ministry of Public Works, Government of the Co-operative Republic of Guyana. The order is for the upgradation of the Palmyra to Moleson Creek Highway.
RITES stock rallied 2.99% to Rs 296 on Friday against the previous close of Rs 287.40. Market capitalization of the company climbed to Rs 14,225 crore in the previous session. RITES shares have a one-year beta of 1.5, indicating high volatility during the period.
"RITES has emerged as top scorer (H-1 bidder) based on QCBS evaluation for Provision of Engineering Services for Design- Build-Finance: Upgrading of the Palmyra to Moleson Creek Highway- Lot 1-3 from Ministry of Public Works, Government of the Co-operative Republic of Guyana. The letter of acceptance shall be issued after due process of scrutiny /evaluation by the Ministry of Public Works, Government of the Co-operative Republic of Guyana," said RITES ltd.
In terms of technicals, the relative strength index (RSI) of RITES stands at 55.4, signaling it's trading neither in the overbought nor in the oversold zone. RITES shares are trading lower than the 50 day, 100 day, 150 day, 200 day but higher than the 5 day, 10 day, 20 day and 30 day moving averages.
The order will be executed over the next 60 months.
On December 6, the company announced it has been appointed as Project Management Consultant (PMC) for Phase II Campus of Indian Institute of Management Raipur (Chhattisgarh) Project on cost plus basis from Indian Institute of Management Raipur (IIM Raipur.
RITES Limited, a subsidiary of Indian Railways, provides engineering services. The company offers transport infrastructure consultancy, railway inspection, rolling stock leasing and maintenance, airport construction management, industrial and electrical engineering, and other related services.