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RITES Gains 10%; BSE CAPITAL GOODS Index Up 3.3%
Mon, 25 Nov 9:35

RITES Gains 10%; BSE CAPITAL GOODS Index Up 3.3%Image source: Nikada/www.istockphoto.com

RITES share price has zoomed 10% and is presently trading at Rs 303.9.

Meanwhile, the BSE CAPITAL GOODS index is at 69,623.7 (up 3.3%).

Among the top gainers in the BSE CAPITAL GOODS index today are Siemens (up 5.0%) and ADANI GREEN ENERGY (up 4.8%).

Thermax (down 1.1%) is among the top losers today.

Over the last one year, RITES has moved up from Rs 239.2 to Rs 303.9, registering a gain of Rs 64.8 (up 27.1%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 48,608.7 to 69,623.7, registering a gain of 43.2% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were Bharat Electronics (up 105.9%), Siemens (up 100.5%) and HINDUSTAN AERO. (up 100.0%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 80,415.9 (up 1.6%).

The top gainers among the BSE Sensex today are L&T (up 3.6%) and MUNDRA PORT & SEZ (up 3.1%). The most traded stocks in the BSE Sensex are Tata Steel and Reliance Ind..

In the meantime, NSE Nifty is at 24,311.8 (up 1.7%). Bharat Electronics and Shriram Transport are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,930.8 to 80,415.9, registering a gain of 14,485.1 points (up 22.0%).

RITES Financial Update...

RITES net profit fell 25.1% YoY to Rs 814 million for the quarter ended September 2024, compared to a profit of Rs 1,087 million a year ago. Net sales declined 7.1% to Rs 5,409 million during the period as against Rs 5,824 million in July-September 2023.

For the year ended March 2024, RITES reported 13.3% decrease in net profit to Rs 4,952 million compared to net profit of Rs 5,710 million during FY23. Revenue of the company fell 8.8% to Rs 20,580 million during FY24.

The current Price to earnings ratio of RITES, based on rolling 12 month earnings, stands at 33.9.

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