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!

The stock is up by 40 per cent in just 1 year and over 70 per cent in 2 years.

RITES Limited, a leading transport infrastructure consultancy and engineering company, is the lowest bidder (L-1) in the tender floated by Bangladesh Railway. The estimated order value is approximately USD 111,003,177. The order includes the procurement of 200 Broad Gauge (BG) passenger carriages for Bangladesh Railway (International entity).

Earlier, the company signed a Memorandum of Understanding (MoU) with CARE Advisory Research and Training Ltd. (CART), a subsidiary of CARE Ratings Limited, to explore avenues of mutual collaboration in the consultancy domain, including ESG services, across sectors.

As part of the MoU, both entities will also collaborate to provide ESG consultancy services, including ESG Assessment, Gap Analysis, ESG Due Diligence, ESG Policy Development and Roadmap as well as ESG/Compliance reporting across sectors. The companies will jointly develop a go-to-market strategy to work proactively and bring in best practices by leveraging each other’s strengths to optimise operations.

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.

On Friday, shares of Rites Ltd surged 0.70 per cent to Rs 481.60 per share with an intraday high of Rs 492 and an intraday low of Rs 480.05. 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 40 per cent in just 1 year and over 70 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.