Company Profile

RITES LTD.

NSE : RITESBSE : 541556ISIN CODE : INE320J01015Industry : EngineeringHouse : PSU
BSE274.7012.2 (+4.65 % )
PREV CLOSE (Rs.) 262.50
OPEN PRICE (Rs.) 265.00
BID PRICE (QTY) 274.20 (57 )
OFFER PRICE (QTY) 274.45 (12 )
VOLUME 61304
TODAY'S LOW / HIGH (Rs.)262.75 275.50
52 WK LOW / HIGH (Rs.)191 331
NSE273.35 10.8 (+4.11 % )
PREV CLOSE(Rs.) 262.55
OPEN PRICE (Rs.) 264.45
BID PRICE (QTY) 273.20 (15 )
OFFER PRICE (QTY) 273.35 (121 )
VOLUME 1348676
TODAY'S LOW / HIGH(Rs.) 262.45 275.60
52 WK LOW / HIGH (Rs.)190.65 331

Company News

Date Heading Details
06-Jul-2020 NLC India, AstraZeneca Pharma and Reliance Industries to see some action today <p align="justify"><strong>NLC India</strong> has signed a pact with state-owned Coal India (CIL) to form a joint venture (JV) to develop 5,000 megawatts of solar and thermal power assets across the country. The equity participation in the proposed JV between CIL and NLC India will be in the ratio of 50:50. This JV company marks a new era in the power sector with the synergy and expertise of two central public sector undertakings under the Ministry of Coal.</p><p align="justify"><strong>AstraZeneca Pharma</strong> <strong>India</strong> has received Import and Market permission in Form CT-20 (Marketing Authorization- Additional Indication) from the Drugs Controller General of India (DCGI) for Dapagliflozin film coated tablet 10mg. Dapagliflozin film coated tablet 10mg is additional indication in adults for the treatment of heart failure with reduced ejection fraction. The receipt of this Import and Market permission paves way for launch of Dapagliflozin film coated tablet 10mg in India, subject to the receipt of related statutory approvals and licenses.</p><p align="justify"><strong>Reliance Industries</strong> (RIL) is planning to increase its network of aviation fuel stations by 50 percent as it looks to capture greater market share in the business currently controlled by public sector oil retailing firms. The company, which operates the world's largest single location oil refining complex, plans to capture this opportunity through increased presence at airports to refuel airplanes.&nbsp; </p><p align="justify"><strong>RITES</strong> has renewed Memorandum of Understanding (MoU) with Coal India (a Government of India Enterprise) on July 03, 2020 for Project Management Consultancy Services of Rail Infrastructure business, and construction of rapid loading system, coal handling plants and silos. This MOU has been renewed for a period of five years. While in the past, such MOU enabled RITES to achieve a fee income of around Rs 100 crore per year, the company is expecting increase in it due to additional scope and several projects expected in the pipeline.</p><p align="justify"><strong>Motherson Sumi Systems</strong> has incorporated a wholly owned subsidiary namely, Motherson Sumi Wiring India (MSWIL) on July 2, 2020 for manufacturing of wiring harness. MSWIL will be the transferee entity into which the Domestic Wiring Harness business of the company will be transferred pursuant to the Scheme of Arrangement and Amalgamation approved by the Board of Directors of the company on July 2, 2020.</p><p align="justify"><strong>ICICI Bank</strong> is planning to raise funds by issue of equity shares and/or other equity linked securities, through permissible mode(s) including but not limited to a private placement, preferential issue, qualified institutions placement, further public offer, etc., or any combination thereof. A meeting of the Board of Directors of the Bank will be held on July 8, 2020, to discuss and consider the same. </p><p align="justify"><strong>Crest Ventures</strong> has acquired 11,55,133 equity shares representing approximately 10% stake&nbsp; in CMS IT Services at a total consideration of Rs. 6,47,33,653. CMS IT provides complete solutions to large corporations across all sectors, including banking, insurance, retail, telecom and manufacturing.</p><p align="justify"><strong>Indiabulls Housing Finance</strong> has raised Rs 150 crore through Secured, Redeemable, Non-Convertible Debentures (NCDs) and allotted 1,500 NCDs having face value Rs 10 lakh each on a private placement basis. These NCDs have been subscribed by a large Indian public sector bank. Date of Maturity of above said NCDs will be January 03, 2022.<br></p>
03-Jul-2020 RITES renews MoU with Coal India for Rail Infrastructure business <p align="justify">RITES has renewed Memorandum of Understanding (MoU) with Coal India (a Government of India Enterprise) on July 03, 2020 for Project Management Consultancy Services of Rail Infrastructure business, and construction of rapid loading system, coal handling plants and silos. This MOU has been renewed for a period of five years.<br></p><p align="justify">While in the past, such MOU enabled RITES to achieve a fee income of around Rs 100 crore per year, the company is expecting increase in it due to additional scope and several projects expected in the pipeline.<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>
03-Jul-2020 Rites informs about updates <P align=justify>Rites has informed that it has enclosed an announcement for Renewal of Memorandum of Understanding with Coal India for Project Management Consultancy Services for Rail Infrastructure business.<P align=justify>The above information is a part of company's filings submitted to BSE.<BR>
09-Jun-2020 RITES secures order worth Rs 55 crore from NHIDCL for highway consulting <p align="justify">RITES has received an order for consultancy services for preparation of detailed project report and providing pre-construction activities for construction of highway tunnels across certain sections on Darcha-Padam road (NH301) including approaches in Himachal Pradesh &amp; Ladhak from National Highways &amp; Infrastructure Development Corporation (NHIDCL). The company is a Joint Venture partner in the said project and its fee is approximately Rs 55 crore.</p><p align="justify">RITES is a Miniratna (Category – I) Schedule ‘A' Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach.<br></p>
09-Jun-2020 RITES rises on securing order worth Rs 55 crore from NHIDCL for highway consulting <p align="justify">Rites is currently trading at Rs. 250.00, up by 2.65 points or 1.07% from its previous closing of Rs. 247.35 on the BSE.</p><p align="justify">The scrip opened at Rs. 254.00 and has touched a high and low of Rs. 254.00 and Rs. 250.00 respectively. So far shares were traded on the counter.</p><p align="justify">The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 331.00 on 29-Jan-2020 and a 52 week low of Rs. 191.00 on 24-Mar-2020.</p><p align="justify">Last one week high and low of the scrip stood at Rs. 254.70 and Rs. 237.10 respectively. The current market cap of the company is Rs. 6183.75 crore.</p><p align="justify">The promoters holding in the company stood at 72.02%, while Institutions and Non-Institutions held 19.30% and 8.68% respectively.</p><p align="justify">RITES has received an order for consultancy services for preparation of detailed project report and providing pre-construction activities for construction of highway tunnels across certain sections on Darcha-Padam road (NH301) including approaches in Himachal Pradesh &amp; Ladhak from National Highways &amp; Infrastructure Development Corporation (NHIDCL). The company is a Joint Venture partner in the said project and its fee is approximately Rs 55 crore.</p><p align="justify">RITES is a Miniratna (Category – I) Schedule ‘A' Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach.<br></p>
09-Jun-2020 RITES, Gayatri Projects and Affle to see some action today <p align="justify"><strong>RITES</strong> has received an order for Consultancy Services for preparation of Detailed Project Report and providing Pre-Construction activities for construction of highway tunnels across certain sections on Darcha-Padam road (NH-301) including approaches in Himachal Pradesh &amp; Ladhak from National Highways &amp; Infrastructure Development Corporation (NHIDCL). The company is a Joint Venture partner in the said project and its fee is approximately Rs 55 crore.</p><p align="justify"><strong>Gayatri Projects</strong> has received letter of award (LoA) for construction of Lagaon Group of Villages Water Supply Scheme, District-Lalitpur, Uttar Pradesh and relevant works including commissioning and operation maintenance for 10 years. The LoA was received from State Water and Transmission Mission, Namami Gange and Rural Water Supply Department, Lucknow. Of the total project cost of Rs 145.53 crore, Rs 17.61 crore is for operation and maintenance of the scheme for 10 years.</p><p align="justify"><strong>Affle</strong> (India) through its subsidiaries (Affle), has signed definitive agreements to acquire full control of Appnext, Singapore and 100% IP of Appnext app discovery and recommendation platform with immediate effect. Affle will initially acquire 66.67% equity ownership in Appnext Singapore, with a clear path to acquire 100% equity ownership upon attainment of mutually agreed growth targets. </p><p align="justify"><strong>PVR's</strong> board has approved the fund raising of up to Rs 300 crore through issuance of equity shares of face value of Rs 10 each (Equity Shares) on rights issue basis (as decided by the Board of Directors or the Fund Raise Committee) to the eligible equity shareholders of the Company. The board of directors of the company, in its meeting held today June 8, 2020, has approved the same. </p><p align="justify"><strong>Satra Properties</strong> India has duly resume its operations and working at its Project site with effect from June 8, 2020 and the company is taking appropriate measures to ensure the safety, hygiene and well-being of all it employees and workers in compliance with the directives/circulars issued by Government.</p><p align="justify"><strong>Infosys</strong> has partnered with Celonis, a market leader in AI-enhanced process mining and process excellence software, to transform ERP modernization and business process optimization. This new partnership will enable customers to embark on long term transformation projects with significant operational savings, overcoming challenges typically associated with crowded technology landscapes, blends of legacy and homegrown systems, and operational silos that threaten digital transformation agendas.&nbsp; </p><p align="justify"><strong>HDFC Bank</strong> has added 2.5 lakh new customers in the last 40 days through an online facility which helps open savings accounts instantly. The account is created using a ‘limited know your customer (KYC)' requirement provision, and the customer has a year's time after the instant account opening to update full details. Most of the accounts which have been opened are from containment zones and red zones in metros and urban areas. <br></p>
05-Jun-2020 RITES' arm secures mandate from Indian Railways <div align="justify">RITES' subsidiary -- Railway Energy Management Company (REMCL) has secured its largest mandate from Indian Railways for handling tendering, installation supervision and managing power supply from 3 GW solar power plants to be set-up on vacant Indian Railway Land. The project will be divided into 3 phases of 1 GW each. First and third phase of 1 GW each will be on PPP basis under Design, Build, Finance, Operate and Transfer model. Second phase of the project (1 GW) will be on ownership model of REMCL, which will be eligible for capital subsidy under CPSE investment scheme. The Railways have already identified suitable land to be leased to REMCL on nominal lease rent.</div><div align="justify"><br></div><div align="justify">RITES is a Miniratna (Category – I) Schedule ‘A' Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach.<br></div>
26-May-2020 RITES, HFCL and ITC to see some action today <p align="justify"><strong>RITES</strong> has signed shareholders' agreement for acquiring 24 percent stake in Indian Railway Stations Development Corporation (IRSDC) for Rs 48 crore with Rail Land Development Authority and IRCON International being the other equity partners. Further, the company has resumed operations at most of its offices and project sites after the coronavirus-induced lockdown restrictions were eased. The Miniratna public sector enterprise said that during this lockdown period, apart from concluding negotiations for a major export deal with CFM Mozambique enhanced to Rs 700 crore on account of increase in quantity, it has been able to successfully deliver the 188 RKM Vijaypur-Pachore Road-Maksi section railway electrification project in Madhya Pradesh.</p><p align="justify"><strong>Himachal Futuristic Communications</strong> (HFCL) has received the purchase order worth approximately Rs 174.43 crore from a Private Leading Integrator of data networks for supply of Optical Fibre Cables (OFC) for construction of Telangana Fiber Grid (T-Fiber) under Bharat Net Phase-II Programme of the Government of India, in the State of Telangana.</p><p align="justify"><strong>ITC</strong> has entered into a Share Purchase Agreement (SPA) to acquire 100% of the equity share capital of Sunrise Foods, an Indian company primarily engaged in the business of spices under the trademark 'Sunrise', subject to fulfilment of various terms and conditions as specified in the SPA. The proposed acquisition is aligned with ITC's strategy to rapidly scale up its FMCG Businesses in a profitable manner, leveraging its institutional strengths viz. deep consumer insight, a deep and wide distribution network, agri-commodity sourcing expertise, cuisine knowledge, strong rural linkages and packaging know-how.</p><p align="justify"><strong>Deepak Fertilisers and Petrochemicals Corporation</strong> (DFPCL) has forayed into hand sanitiser segment under the brand name 'Cororid'. The product based on Isopropyl Alcohol (IPA) is available in different volumes from 500 millilitre, 1 litre, 5 litre, 10 litre, 20 litre, 25 litre, 200 litre to tanker load. The 'Cororid' hand sanitiser has an effective anti-bacterial, antifungal and anti-viral agent with proven disinfectant properties which does not dehydrate and is soft on the skin.</p><p align="justify"><strong>Indo Amines</strong> has entered into a Joint Venture (JV) Cum Collaboration Agreement with a Thailand based Company, Optimal Tech for manufacturing various specialities like Blended Emulsifiers for Agro, Fertiliser Additives, BKC, etc.</p><p align="justify"><strong>Cupid</strong> has received a repeat order from Medical Stores Department, Government of Tanzania for supply of Male Condoms of worth Rs 15.5 crore (Approx.). Earlier, the company has secured order worth Rs 16.10 crore from Govt of Tanzania, UNFPA.</p><p align="justify"><strong>SpiceJet</strong> has opened booking for its domestic flights as it resumes operations with a little over 200 daily flights to 41 destinations after a hiatus of almost two months. Operations of commercial passenger flights were suspended from March 25 in the wake of COVID-19 and subsequent lockdown.<br></p>
23-May-2020 RITES signs agreement for acquiring 24% stake in IRSDC <p align="justify">RITES has signed shareholders' agreement for acquiring 24 percent stake in Indian Railway Stations Development Corporation (IRSDC) for Rs 48 crore with Rail Land Development Authority and IRCON International being the other equity partners.</p><p align="justify">Further, the company has resumed operations at most of its offices and project sites after the coronavirus-induced lockdown restrictions were eased. The Miniratna public sector enterprise said that during this lockdown period, apart from concluding negotiations for a major export deal with CFM Mozambique enhanced to Rs 700 crore on account of increase in quantity, it has been able to successfully deliver the 188 RKM Vijaypur-Pachore Road-Maksi section railway electrification project in Madhya Pradesh.</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 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>