Company Profile

RITES LTD.

NSE : RITESBSE : 541556ISIN CODE : INE320J01015Industry : EngineeringHouse : PSU
BSE243.55-2.4 (-0.98 % )
PREV CLOSE (Rs.) 245.95
OPEN PRICE (Rs.) 245.70
BID PRICE (QTY) 0.00 (0 )
OFFER PRICE (QTY) 0.00 (0 )
VOLUME 14200
TODAY'S LOW / HIGH (Rs.)239.45 253.00
52 WK LOW / HIGH (Rs.)180.84 331
NSE243.95 -2.15 (-0.87 % )
PREV CLOSE(Rs.) 246.10
OPEN PRICE (Rs.) 245.00
BID PRICE (QTY) 0.00 (0 )
OFFER PRICE (QTY) 243.95 (421 )
VOLUME 434369
TODAY'S LOW / HIGH(Rs.) 238.60 253.60
52 WK LOW / HIGH (Rs.)180.4 331

Company News

Date Heading Details
19-Mar-2020 APPOINTMENT OF SECRETARIAL AUDITORS FOR THE FINANCIAL YEAR 2019-20 Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that the Board of Directors in its meeting held today i.e. 19-03-2020 has appointed M/s Akhil Rohatgi & Company,Company Secretaries, as Secretarial Auditor of the Company for the FY 2019-20.
19-Mar-2020 Foreclosure Of JV Agreement With BNV Gujarat With reference to the schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015, we wish to inform you that the Board in its meeting held today has decided to close the JV agreement with BNV Gujarat Rail Pvt. Limited, subject to the further approval, if any.
16-Mar-2020 RITES achieves ‘Excellent' rating in respect of MoU signed in 2018-19 <p align="justify">RITES has achieved Memorandum of Understanding (MoU) score as 100 out of 100 i.e. Excellent rating in respect of MoU signed for the year 2018-19. The company is a Central Public Sector Undertaking (CPSE) under the Ministry of Railways. Being a CPSE, every year the company signs MoU with its administrative Ministry i.e Ministry of Railways, Government of India. This MoU measures various financial and other performance parameters.</p><p align="justify">RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.<br></p>
16-Mar-2020 Infosys, Wipro and Ind Swift Laboratories to see some action today <p align="justify"><strong>Infosys</strong> has completed the acquisition of Simplus, one of the fastest growing Salesforce Platinum Partners in the USA and Australia. Through this acquisition, coupled with the acquisition of Fluido announced in September 2018, Infosys further elevates its position as an end-to-end Salesforce enterprise cloud solutions and services provider, offering clients unparalleled capabilities for cloud-first digital transformation.<p align="justify"><strong>Wipro</strong> has entered into global strategic partnership with PLEXIS Healthcare Systems. This partnership will enable a streamlined, efficient, accurate and integrated plan administration solution to support healthcare payers and plan sponsors worldwide. The aim is to offer secure, compliant, high-value, end-to-end ‘digital first' plan administration solutions at a cost-effective price point along with enhanced customer experience. The partnership will initially focus on supporting Medicare and Managed Medicaid programs, but will expand to support Accountable Care Act and commercial lines of business.<p align="justify">United States Food and Drug Administration (USFDA) has completed inspection at <strong>Ind Swift Laboratories'</strong> API manufacturing facility at Derabassi (Punjab), near Chandigarh, India, which was conducted from March 9, 2020 to March 13, 2020. The USFDA has cleared this inspection without any 483 observation. <p align="justify"><strong>ICICI Bank</strong> has received approval from its board for an investment of Rs 1,000 crore in Yes Bank via equity route. The bank will acquire 100 crore equity shares of Yes Bank at Rs 10 per share, including a premium of Rs 8 per share.<p align="justify"><strong>Jump Networks</strong> (JUMPNET) has entered into a Memorandum of Understanding (MoU) with Scope Infra (SCOPE) for a Proof of Concept (PoC) study of 'CableCloud' - JUMPNET's proprietary cloud-based Software-as-a-Service (SaaS) platform for streaming of internet protocol television (IPTV) and entertainment on demand.<p align="justify"><strong>RITES</strong> has secured a consulting work award with fee income of Rs 60 crore from the Government of Kerala for conducting Independent Quality Audit for Kerala Infrastructure Investment Fund Board (KIIFB) projects. The period of execution is likely to span over 21 months. <p align="justify"><strong>Transformers and Rectifiers</strong> (India) has received order for supply and service of Transformers amounting to Rs 130 crore from Power Grid Corporation of India. The said order falls under the normal course of business. The company neither has any interest in the entity that awarded the order nor fall within related party transactions. <p align="justify"><strong>Dhruv Consultancy Services</strong> has received the Letter of Acceptance (LoA) for Consultancy Services for authority's engineer for supervision of construction of emergency landing facility on National Highways-Development of emergency landing facility on Balasore-Kharagpur section from Km 83,400 to Km 88,400 (total 5 Km) of NH 60 (New NH-16) in the state of West Bengal on EPC Mode, from the office of General Manager (Tech) of National highways Authority of India, Ministry of Road Transport and Highways, Govt of India, New Delhi.</p>
16-Mar-2020 Intimation Regarding MOU Rating 'EXCELLENT' RITES Limited is a Central Public Sector Undertaking (CPSE) under the Ministry of Railways. Being a CPSE, every year RITES signs Memorandum of Understanding (MOU) with its administrative Ministry i.e Ministry of Railways, Government of India. This MOU measures various Financial and other performance parameters. Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that RITES has achieved MOU score as 100 out of 100 i.e. EXCELLENT rating in respect of MOU signed for the year 2018-19.
14-Mar-2020 RITES secures consulting work of Rs 60 crore from Government of Kerala <p align="justify">RITES has secured a consulting work award with fee income of Rs 60 crore from the Government of Kerala for conducting Independent Quality Audit for Kerala Infrastructure Investment Fund Board (KIIFB) projects. The period of execution is likely to span over 21 months. <br></p><p align="justify">RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.<br></p>
14-Mar-2020 Rites submits earnings call transcript <p align="justify">Rites has submitted earnings call transcript. <br></p><p align="justify">The above information is a part of company's filings submitted to BSE.<br></p>
13-Mar-2020 Intimation Regarding Major Order Secured Please find enclosed herewith an intimation of major order secured in relation to the consulting work award of conducting Independent Quality Audit of KIIFB projects.
06-Mar-2020 LIC buys 2.38% stake in RITES through OFS <p align="justify">Life Insurance Corporation (LIC) has bought 2.38 per cent government stake in RITES through secondary market purchases, taking its total stake in the railway public sector undertaking to 7.83 per cent. LIC has acquired 59.49 lakh shares, or 2.38 per cent stake, in the company though an offer-for-sale (OFS) between November 22, 2019 and February 27, 2020.</p><p align="justify">The government on February 27 launched an OFS for selling up to 10 per cent stake in RITES. The floor price for the OFS was fixed at Rs 298 a share. At this price, LIC has purchased shares worth about Rs 177 crore in RITES. Following this, LIC's holding in RITES has gone up to 7.83 per cent from 5.45 per cent.</p><p align="justify">RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.<br></p>
05-Mar-2020 Employee Offer For Sale (Employee OFS) Offer of equity shares to the eligible employees of rites Limited (Company) as per Alternative Mechanism approval dated March 02nd, 2020 - Employee Offer for sale (Employee OFS)