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RITES Gains 9%; BSE CAPITAL GOODS Index Down 0.6%
Fri, 12 Jul 14:9

RITES Gains 9%; BSE CAPITAL GOODS Index Down 0.6%Image source: StarLineArts/www.istockphoto.com

RITES share price has zoomed 9% and is presently trading at Rs 787.3.

Meanwhile, the BSE CAPITAL GOODS index is at 74,900.6 (down 0.6%).

Among the top gainers in the BSE CAPITAL GOODS index today are Carborundum Universal (up 0.7%) and L&T (up 0.6%).

SCHAEFFLER INDIA (down 3.0%) and ABB (down 2.8%) are among the top losers today.

Over the last one year, RITES has moved up from Rs 374.2 to Rs 787.3, registering a gain of Rs 413.1 (up 110.4%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 40,584.0 to 74,900.6, registering a gain of 84.6% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 258.1%), HINDUSTAN AERO. (up 191.0%) and Bharat Electronics (up 170.1%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,709.1 (up 1.0%).

The top gainers among the BSE Sensex today are TCS (up 6.8%) and Infosys (up 3.6%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,558.6 (up 1.0%). TCS and Wipro are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,344.2 to 80,709.1, registering a gain of 15,364.9 points (up 23.5%).

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 38.6.

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