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RITES Gains 5%; BSE CAPITAL GOODS Index Up 0.5%
Thu, 4 Jul 12:42

RITES Gains 5%; BSE CAPITAL GOODS Index Up 0.5%Image source: ipopba/www.istockphoto.com

RITES share price has zoomed 5% and is presently trading at Rs 737.0.

Meanwhile, the BSE CAPITAL GOODS index is at 74,155.3 (up 0.5%).

Among the top gainers in the BSE CAPITAL GOODS index today are V GUARD IND. (up 1.4%) and Honeywell Automation (up 1.3%).

TIMKEN INDIA (down 0.5%) and SKF India (down 0.5%) are among the top losers today.

Over the last one year, RITES has moved up from Rs 371.8 to Rs 737.0, registering a gain of Rs 365.2 (up 98.2%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 40,540.3 to 74,155.3, registering a gain of 82.9% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 254.9%), HINDUSTAN AERO. (up 192.0%) and Bharat Electronics (up 155.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,183.7 (up 0.2%).

The top gainers among the BSE Sensex today are HCl Tech. (up 2.6%) and ICICI Bank (up 2.0%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Motors.

In the meantime, NSE Nifty is at 24,346.7 (up 0.3%). HCl Tech. and ICICI Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 80,183.7, registering a gain of 14,978.7 points (up 23.0%).

RITES Financial Update...

RITES net profit fell 3.5% YoY to Rs 1,343 million for the quarter ended March 2024, compared to a profit of Rs 1,392 million a year ago. Net sales declined 6.3% to Rs 6,433 million during the period as against Rs 6,868 million in January-March 2023.

For the year ended March 2023, RITES reported 6.0% increase in net profit to Rs 5,710 million compared to net profit of Rs 5,386 million during FY22. Revenue of the company fell 6.1% to Rs 22,557 million during FY23.

The current Price to earnings ratio of RITES, based on rolling 12 month earnings, stands at 36.2.

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