Rs 5,496 crore order book: This civil construction company receives new EPC order worth Rs 414 crore from IIT-Bhubaneswar

The stock gave multibagger returns of 130 per cent in just 1 year whereas BSE Sensex Index is up by 23 per cent.

RITES Ltd was awarded a contract to act as a Project Management Consultant (PMC) for the construction of various infrastructure works at the permanent campus of IIT Bhubaneswar. This project, valued at Rs. 414 crore excluding GST, will be undertaken under EPC mode III and will see RITES overseeing infrastructure development across the campus.

Established in 1974, RITES Limited is a leading public sector player in India's transport consultancy and engineering, offering diversified services from locomotive and train manufacturing to consultancy, exports, leasing and turnkey projects across railways, metros, airports, ports, highways, ropeways and urban infrastructure. As India's export arm for rolling stock (except Thailand, Malaysia, and Indonesia), it boasts expertise in various gauges and caters to diverse transportation needs.

As of December 31, 2023, the company's order book amounted to Rs 5,496 crore. The company secured 100+ orders worth Rs 612 crore. As of September 2023, FIIs have increased their stake to 3.98 per cent from 3.44 per cent in June 2023.

The stock has a 52-week high of Rs 821.30 and a 52-week low of Rs 312.15. The company reported excellent numbers in both Quarterly Results & annual results and has been maintaining a healthy dividend payout of 80.8 per cent.

The stock has an ROE of 21.3 per cent and an ROCE of 30 per cent. The stock gave multibagger returns of 130 per cent in just 1 year whereas BSE Sensex Index is up by 23 per cent. Investors should keep a close eye on this civil construction stock under the radar.

Disclaimer: The article is for informational purposes only and not investment advice. 

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