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RITES Gains 6%; BSE CAPITAL GOODS Index Up 0.7%
Wed, 9 Oct 9:24

RITES Gains 6%; BSE CAPITAL GOODS Index Up 0.7%Image source: DNY59/www.istockphoto.com

RITES share price has zoomed 6% and is presently trading at Rs 316.2.

Meanwhile, the BSE CAPITAL GOODS index is at 71,257.9 (up 0.7%).

Among the top gainers in the BSE CAPITAL GOODS index today are SKF India (up 5.4%) and Thermax (up 3.0%).

Lakshmi Machine (down 1.2%) and V GUARD IND. (down 0.5%) are among the top losers today.

Over the last one year, RITES has moved up from Rs 235.3 to Rs 316.2, registering a gain of Rs 81.0 (up 34.4%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 47,558.7 to 71,257.9, registering a gain of 49.8% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 129.0%), BHEL (up 110.4%) and Siemens (up 109.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,810.5 (up 0.2%).

The top gainers among the BSE Sensex today are Tata Motors (up 2.0%) and Asian Paints (up 1.6%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 25,056.3 (up 0.2%). BPCL and Tata Motors are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.4 to 81,810.5, registering a gain of 16,298.1 points (up 24.9%).

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 33.2.

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