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RITES Gains 6%; BSE CAPITAL GOODS Index Up 0.9%
Mon, 29 Jul 9:17

RITES Gains 6%; BSE CAPITAL GOODS Index Up 0.9%Image source: Eoneren/www.istockphoto.com

RITES share price has zoomed 6% and is presently trading at Rs 706.2.

Meanwhile, the BSE CAPITAL GOODS index is at 74,073.6 (up 0.9%).

Among the top gainers in the BSE CAPITAL GOODS index today are BHEL (up 3.3%) and V GUARD IND. (up 2.6%).

Lakshmi Machine (down 2.0%) and Carborundum Universal (down 0.9%) are among the top losers today.

Over the last one year, RITES has moved up from Rs 493.2 to Rs 706.2, registering a gain of Rs 213.0 (up 43.2%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 42,459.1 to 74,073.6, registering a gain of 74.5% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 235.2%), HINDUSTAN AERO. (up 158.1%) and Bharat Electronics (up 146.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,679.7 (up 0.4%).

The top gainers among the BSE Sensex today are NTPC (up 2.0%) and Tata Steel (up 1.4%). The most traded stocks in the BSE Sensex are ICICI Bank and Bharti Airtel.

In the meantime, NSE Nifty is at 24,943.3 (up 0.4%). NTPC and APOLLO HOSPITALS are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,355.7 to 81,679.7, registering a gain of 15,323.9 points (up 23.1%).

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 34.6.

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