Rs 5,529 crore order book & FIIs increase stake: This civil construction company signs MoUs with Meghalaya Industrial Development Corporation Ltd and Oil India Ltd!
The stock is up by 30 per cent in just 1 year and over 80 per cent in 2 years.
RITES Ltd, a prime transport infrastructure consultancy and engineering firm, has entered into a memorandum of understanding (MoU) with Meghalaya Industrial Development Corporation Ltd (MIDC) to develop Multi-Modal Logistics projects in Meghalaya. As part of the MoU, RITES will be offering its expertise as a Project Management Consultant and shall undertake a comprehensive range of services for developing Multi-Modal Logistics projects in Meghalaya. The collaboration is set to improve logistics infrastructure within Meghalaya and enhance trade and transport opportunities, fostering economic development and easing access to the region.
Additionally, the company has entered into a memorandum of understanding (MoU) with Oil India Limited, the second-largest National Oil Company, to develop Duliajan Township, Assam, as a Mini Smart City. As part of the MoU, RITES will undertake an extensive study, review the existing system and prepare a suitable/feasible design to develop Duliajan Township, managed and operated by OIL, as a Mini Smart City. The collaboration, aimed at reviving the Township, entails infrastructure works such as a review of the existing drainage system and design, DPR for integration of the Solid Waste Management System, review of road & traffic network and plan for parking facilities. Besides, RITES will offer its expertise in buildings, horticulture and beautification works.
As of June 30, 2023, the company's order book amounted to Rs 5,702 crore. The company secured more than 70+ orders worth Rs 300+ crore. As of September 2023, FIIs have increased their stake to 3.98 per cent from 3.44 per cent in June 2023.
On Friday, shares of Rites Ltd plunged 1.20 per cent to Rs 476.40 per share with an intraday high of Rs 486.10 and an intraday low of Rs 472. The stock has a 52-week high of Rs 583.45 and a 52-week low of Rs 305.75.
The company reported excellent numbers in both Quarterly Results and annual results. The stock has an ROE of 21.3 per cent and an ROCE of 30 per cent. The stock is up by 30 per cent in just 1 year and over 80 per cent in 2 years. Investors should keep a close eye on this civil construction stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
Related articles
-
Rs 5,702 crore order book: This civil construction company signs MoU with Caminho De Ferro De Mocamedes (CFM) Angola for railways infrastructure!
-
Rs 5,702 crore order book: This civil construction company signs MoU with iHUB DivyaSampark IIT-Roorkee to explore business avenues!
-
Rs 1,50,000 crore order book: This multibagger heavy electrical equipment company signs MoU with Government of India; scrip hit back-to-back 52-week high!
-
Rs 5,702 crore order book: This civil construction company emerges as the lowest bidder for order worth USD 111,003,177 from Bangladesh Railway!
-
Rs 5,702 crore order book: This civil construction company signs MoU with CARE Advisory Research and Training Ltd!
-
Rs 6,535 crore order book: This railway engineering company signs MOU with Transnamib Holdings Limited!
-
Debt-free drone company signs MoU with Chennai’s Zuppa Geo Navigation Technologies Pvt Ltd; details inside!
-
Rs 36,355 crore order book: LIC-backed multibagger construction stock below Rs 70; Company reports a 94 per cent jump in net profit to Rs 324.2 crore!
-
Rs 19,253 crore order book: This civil construction company completes a project worth Rs 1,051 crore in the State of Bihar
-
This waste management company partners with High Grade Farms, Inc. – details inside!
-
Rs 15,885 crore order book: This multibagger power generation company partners with Indian Bank; details inside!
-
President of India-backed railway logistics company signs an MoU with PSA MESA Supply Chain Pvt Ltd – know more here!
-
4,700 per cent returns and Rs 172.83 crore order book: This multibagger cable company signs MoU with TECO 2030
-
Rs 10,000 crore orders and Rs 55,300 crore order book: This multibagger civil construction company bags huge orders from Greater Noida Authority
-
Multibagger penny stock at Rs 22: This electrical equipment company bags new orders worth Rs 40,00,00,000 in West Bengal
-
Rs 1047 crore order book: This multibagger small-cap company reports a 33 per cent jump in net profit along with increasing its footprint in the ultra-luxurious segment in Mumbai
-
Rs 1,156 crore order book: This civil construction company achieves Rs 333 crore of sales in its uber-luxurious project Aaradhya OnePark – know more here!
-
6,700 per cent multibagger returns: This cable manufacturing company allocated 2,03,74,980 preferential shares to Anand Rathi Global Finance, VLS Finance and 62 others!
-
Rs 5,100 crore order book & Quant MF bought 22,50,000 shares: This multibagger railways telecom company bags order worth Rs 1,62,73,00,000 from Navodaya Vidyalaya Samiti!
-
Rs 361 crore order book & FIIs increase stake: Watch out for this multibagger stock trading at Rs 110 that locked in the upper circuit on 25th January