Rites Ltd (RITES)

RITES Ltd's Market Cap Drops by Rs. 7 Billion - 08 May, 2024

Last week, the market cap of RITES Limited dropped by Rs. 7 billion due to considerable ownership by the Indian government, indicating their greater say in management and business strategy.

RITES Awarded Contract for Independent Safety Assessment of Vande Bharat Sleeper Train - 02 May, 2024

RITES, the only ISA-certified CPSE, has been awarded a contract to conduct an independent safety assessment of the rolling stock being procured by Indian Railways. This marks RITES' entry into a new business stream and showcases its domain expertise.

Rites Ltd Receives Work Order from Bangladesh Railway, Wins Contract from Indian Railways - 30 Apr, 2024

Rites Ltd has received a $111.26 million work order from Bangladesh Railway for the supply of 200 Broad Gauge Passenger Carriages and won a Rs 817.74 crore wagon manufacturing contract from Indian Railways. The company's Q3FY24 revenue increased by 1%, while net profit decreased by 12% YoY.

Rites Signs MOU with Ultratech Cement for Rail Infra Projects - 26 Apr, 2024

Rites Limited has signed a Memorandum of Understanding (MOU) with Ultratech Cement for providing project management consultancy services for Rail Infrastructure projects. The company's shares gained 3% on the news, and as of Q3FY24, it has a robust order book of Rs. 5,496 crores.

RITES Signs MoU for Rail Infrastructure Projects - 25 Apr, 2024

Transport infrastructure consultancy RITES has signed an MoU with Damodar Valley Corporation (DVC) for project management consultancy services for rail infrastructure projects. The collaboration aims to find novel infrastructure solutions for upgrading, renovating, and developing rail connectivity for power plants and surrounding areas.

RITES Signs MoU for Rail Infra Works, Aims to Break Weak Revenue Growth Streak - 24 Apr, 2024

RITES Ltd signs a memorandum of understanding with Damodar Valley Corp to collaborate on rail infrastructure works. The company aims to break its weak revenue growth streak next year after signing over 100 orders in Q3 totaling more than ₹600 crore. Technical analysis suggests buying the stock for an upside target of Rs 805.

RITES Ltd Faces Challenges for Dividend Investors - 16 Apr, 2024

RITES Ltd's high payout ratios and unreliable dividend payments over the past six years, coupled with significant share price volatility, present challenges for dividend investors. Despite a 3.1% dividend yield, cash and earnings coverage indicate potential sustainability issues.