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RITES Gains 4%; BSE CAPITAL GOODS Index Up 0.2%
Thu, 17 Oct 9:28

RITES Gains 4%; BSE CAPITAL GOODS Index Up 0.2%Image source: DNY59/www.istockphoto.com

RITES share price has zoomed 4% and is presently trading at Rs 311.6.

Meanwhile, the BSE CAPITAL GOODS index is at 72,494.3 (up 0.2%).

Among the top gainers in the BSE CAPITAL GOODS index today are GRINDWELL NORTON (up 3.5%) and L&T (up 1.1%).

BHEL (down 1.4%) and Siemens (down 1.0%) are among the top losers today.

Over the last one year, RITES has moved up from Rs 251.2 to Rs 311.6, registering a gain of Rs 60.4 (up 24.1%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 48,111.6 to 72,494.3, registering a gain of 50.7% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 134.8%), Siemens (up 119.4%) and Bharat Electronics (up 108.2%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 81,526.2 .

The top gainers among the BSE Sensex today are L&T (up 1.1%) and Infosys (up 1.1%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,940.2 (down 0.1%). Bajaj Auto and Hero Motocorp are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 81,526.2, registering a gain of 15,359.3 points (up 23.2%).

RITES Financial Update...

RITES net profit fell 26.3% YoY to Rs 883 million for the quarter ended June 2024, compared to a profit of Rs 1,197 million a year ago. Net sales declined 10.8% to Rs 4,858 million during the period as against Rs 5,444 million in April-June 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 32.7.

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