Rites Ltd Share Price – NSE /  BSE

Miscellaneous, Small Cap

RITES signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC), which is renowned for operating and maintaining Delhi's extensive metro rail network. Through this MoU, both organizations will combine their strengths to identify, secure, and execute metro projects in India and abroad.

This strategic collaboration will focus on offering services in areas including General Consultancy, Project Management, Detailed Design, Feasibility Studies and others. The partnership aims at tapping opportunities in the urban transit system space, delivering world-class solutions for both domestic and international projects.

Also, the alliance syncs with RITES' ongoing efforts to expand its global footprint under its 'RITES Videsh' initiative. With DMRC's extensive experience in metro rail operations and RITES' proven expertise in transport infrastructure, both entities are well-positioned to pursue emerging opportunities

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This strategic collaboration will focus on offering services in areas including General Consultancy, Project Management, Detailed Design, Feasibility Studies and others.

The partnership aims at tapping opportunities in the urban transit system space, delivering world-class solutions for both domestic and international projects.

Also, the alliance syncs with Rites' ongoing efforts to expand its global footprint under its ‘Rites Videsh’ initiative. With DMRC’s extensive experience in metro rail operations and Rites’ proven expertise in transport infrastructure, both entities are well-positioned to pursue emerging opportunities.

Rites, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company.

The company’s consolidated net profit declined 24.37% to Rs 90.44 crore in Q1 FY25 as against Rs 119.58 crore recorded in Q1 FY24. Revenue from operations declined 10.76% to Rs 485.76 crore in the quarter ended 30 June 2024 from Rs 544.35 crore posted in Q1 FY24.

Shares of RITES slipped 3.43% to currently trade at Rs 323.20 on the BSE.

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The scope of work includes supply and commissioning and one-year onsite warranty of overhauled in service Cape Gauge 3100 HP, diesel electric locomotive.

The total consideration of the order is $4.28 million. The order will be executed within six and it has a one year warranty.

Rites, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 June 2024, the Government of India held 72.20% stake in the company.

The company’s consolidated net profit declined 24.37% to Rs 90.44 crore in Q1 FY25 as against Rs 119.58 crore recorded in Q1 FY24. Revenue from operations declined 10.76% to Rs 485.76 crore in the quarter ended 30 June 2024 from Rs 544.35 crore posted in Q1 FY24.

Shares of RITES declined 2.39% to Rs 337.50 on the BSE.

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Rites has received the LOA from Tsiko Africa Logistics for supply, commissioning and one year onsite warranty of overhauled in-service Cape Gauge 3100 HP, diesel electric locomotive. The contract is valued at USD 4.28 million.

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