Rs 8,877 Crore Order Book: Road Construction Bags International Order Worth USD 29,08,824.50 from Guyana's Ministry of Public Works-ID001
The stock is up by 61.6 per cent from its 52-week low of Rs 192.30 per share.
Rites Limited has received a Letter of Acceptance (LOA) from the Ministry of Public Works, Co-operative Republic of Guyana, for the construction supervision of the "East Bank-East Coast Road Project Phase 2 (Eccles to Providence)" extension, which also includes additional work for an existing assignment. This international contract, valued at USD 29,08,824.5 (excluding taxes), involves providing construction supervision services for a period of 18 months, followed by a 12-month defects liability period.
Earlier, the company inked a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL). This strategic partnership aims to establish a swift, dependable, and sustainable supply chain for metals and minerals, including critical minerals, both domestically and internationally. The collaboration will leverage the combined technical and financial strengths of both entities to focus on exploration, extraction, refining, and production, and will also include participation in mineral block auctions and the development of mining infrastructure. RITES will offer comprehensive consultancy and logistics solutions, from project planning and transport infrastructure development to multimodal transport planning and rolling stock support, all designed to bolster HCL’s mining operations and support India’s critical mineral security and economic resilience.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
About the Company
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.
The stock has a 52-week high of Rs 398.50 per share & a 52-week low of Rs 192.30 per share and has been maintaining a healthy dividend pay-out of 98 per cent. The company has a market cap of over Rs 14,000 crore and as of March 31, 2025, its order book stands at Rs 8,877 crore. The stock has an ROE of 15 per cent and an ROCE of 21 per cent. The stock is up by 61.6 per cent from its 52-week low of Rs 192.30 per share.
Disclaimer: The article is for informational purposes only and not investment advice.