Rites Limited up by 9.04% - Traders Corners | Espresso

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Espresso Shot of the Day - Rites Ltd up by 9.04 percent

November 03, 2022
Espresso Shot of the Day - Rites Ltd up by 9.04 percent

RITES LTD 409.60  (+9.04%) BSE –INE320J01015 | 3rd November 2022

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RITES Limited, a Miniratna (Category-I) and Schedule 'A' Central Public Sector Enterprise under the Ministry of Railways, incorporated on April 26, 1974, is a multidisciplinary engineering and consultancy organization, that provides a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies. RITES is a leading player in the transport consultancy and engineering sector in India and uniquely placed in terms of diversification of services and geographical reach in various sectors such as railways, highways, urban engineering (metros) & sustainability, airports, ports, ropeways, institutional buildings, inland waterways, and renewable energy. The company is the only export arm of Indian Railways for providing rolling stock. Other countries that do this particular operation are Thailand, Malaysia, and Indonesia. RITES' success story spans over 48 years covering more than 55 countries across Asia, Africa, Latin America, South America, and Middle East regions. RITES became a listed company in July 2018, and it has made it to the Top-500 listed Indian companies based on its market capitalization.


Recent Drivers

  • Rites Ltd fixed November 18, 2022, as the record date for second interim dividend for financial year 2022-23, if any on November 3,2022.
  • Rites Ltd said that it has secured a new business order on October 14,2022 for construction of depot-cum-workshop for Rs. 499.41 crore from Bangalore Metro Rail Corporation Limited. The share of RITESin the order is 51 per cent.
  • On August 9,2022, Rites Ltd said it has won an order from the arm of Indian Railways with a JV Partner, worth Rs.361.18 crores. The order relates to the redevelopment of the Kollam railway station from Southern Railways.
  • On July 28,2022, Rites Ltd reported net a profit of Rs.137.52 crores in June 2022, up 91.03% from Rs. 71.99 crores in June 2021
  • On July 28,2022, Rites Ltd reported a net sale of Rs. 605.04 crores in June 2022, up 70.59% from the Rs. 354.68 crores reported in June 2021.
  • The Board of Directors announced the first interim dividend of Rs 4 per equity share on July 20,2022.
     (Sources: BSE, Money control, Business Today, Business Standard)


Technical Force*

  • S&P BSE 500 month till date gain by 0.45%.
  • 3 months avg. NSE volume: 1,067,883
  • Quantity traded: 2,33,555| Deliverable quantity: 65,162 (27.90%).
  • Stock price jumped by more than 70 % from a one-year low level: 226.05 (June 20, 2022)
  • Daily RSI (14) is in oversold territory today.
  • 52-week-high: 417.85| 52-week-low: 226.05.


Key Pivot (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

395.77

356.88

310.17

271.28

224.57

185.68

138.97

-

Fibonacci Pivot

356.88

324.18

303.98

290.97

271.28

251.60

238.58

218.38

185.68


Today’s Close

409.60

SMA

BSE

10 DAY

378.04

20 DAY

374.08

50 DAY

330.33

200 DAY

273.89


Some Key Ratios (Source: BSE)

Market Cap:  9,842.77 Crores

PE:  17.71

OPM%: 32.44

ROE%:  23.17

Promoters holding%: 72.20

Prev. Close:  375.65


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The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Espresso Financial Services Pvt. Ltd bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Espresso Financial Services Pvt. Limited is under no obligation to update the information in this document from time-to-time.


Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.