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RITES Plunges 4%; BSE CAPITAL GOODS Index Down 1.9%
Mon, 7 Oct 10:49

RITES Plunges 4%; BSE CAPITAL GOODS Index Down 1.9%Image source: asbe/www.istockphoto.com

RITES share price has plunged 4% and is presently trading at Rs 303.3.

Meanwhile, the BSE CAPITAL GOODS index is at 68,978.5 (down 1.9%).

Among the top losers in the BSE CAPITAL GOODS index today are Graphite India (down 4.8%) and Finolex Cables (down 4.7%).

Over the last one year, RITES has moved up from Rs 245.1 to Rs 303.3, registering a gain of Rs 58.2 (up 23.8%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 48,209.1 to 68,978.5, registering a gain of 43.1% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 113.3%), Siemens (up 100.2%) and BHEL (up 97.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,734.7 (up 0.1%).

The top gainers among the BSE Sensex today are ITC (up 1.7%) and ICICI Bank (up 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and Bharti Airtel.

In the meantime, NSE Nifty is at 24,972.4 (down 0.2%). MUNDRA PORT & SEZ and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,734.7, registering a gain of 16,222.6 points (up 24.8%).

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 31.8.

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