Low PE High ROCE stock: This PSU enterprise bags multiple orders from Kerala Infrastructure Investment Fund

Shares of this company jumped more than 25 per cent in the last one year.

Rites Limited reported in the exchange filing that the company has secured major orders from Kerala Infrastructure Investment Fund Board for project management and consultancy work. The order is worth Rs 72 crore. This is the second order received from Kerala Infrastructure Investment Fund by the company. On April 2, 2023, the company also received Rs 72 crore order from the same entity. 

On Thursday, the stock opened at Rs 352.95, with a high and low of Rs 353.95 and Rs 353.35. The stock closed trading at 344.50, down by 0.10 per cent. 

The stock has a 52-week high of Rs 433.20 and a 52-week low of Rs 226.05. The company has a ROCE of 30.2 per cent and an ROE of 21.1 per cent. The company is a constituent of group A stocks with a market capitalisation of Rs 8278.40 crore.   

In the last 6 months, the shares of the company have given about -10 per cent returns and in the last one year, the stock has gained more than 25 per cent.  

Established in 1974, RITES Limited is a public sector enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).