&w=3840&q=100)
Rites jumps 3% on securing ₹28.5 crore order from Gujarat Urban Development
The company's market capitalisation stood at ₹13,521.79 crore. Its 52-week high was at ₹398.5 per share and 52-week low was at ₹192.3 per share.
In one year, Rites shares have lost 20 per cent as compared to Sensex's rise of 5 per cent.
Rites order win details
The civil construction company's stock advanced after its received a letter of intent from Gujarat Urban Development Company, worth around ₹28.5 crore. The order has to be executed within 60 days.
"We are pleased to inform you that RITES has received the Letter of Intent from Gujarat Urban Development Company Limited for 'Appointment of TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY under GUDC for ULBs of Gujarat," the filing read.
The company has been appointed as the TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY by GUDC for ULBs of Gujarat.
A TPI (Third-Party Inspection) agency is appointed to inspect and monitor the work on various infrastructure projects.
Recently, the company also bagged an order for construction and supervision for the extension of East Bank- East Coast Road Project Phase 2 (Eccles to Providence), along with additional work under an existing assignment. The order was worth $2,908,824.5. The project is international in nature and spans 18 months of construction supervision, followed by a 12-month defects liability period.
The order was secured from the Ministry of Public Works, Co-operative Republic of Guyana.
About Rites
Rites is a Navratna and Schedule 'A' Central Public Sector Enterprise under the Ministry of Railways, incorporated on April 26, 1974, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies. The company's market capitalisation has placed it among the top 500 listed companies in India, a testament to the high-quality solutions and services it delivers, driven by its talented pool of professionals.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
3 hours ago
- Mint
Dividend Stocks: HAL, Godfrey Phillips, Coal India, among others to trade ex-dividend next week; Full list
Dividend Stocks: Shares of major companies, including Hindustan Aeronautics (HAL), Godfrey Phillips India, Coal India, Senco Gold, Rail Vikas Nigam Ltd, Natco Pharma, Power Finance Corp., Jammu & Kashmir Bank, and JK Paper, are among others that will trade ex-dividend in the week starting Monday, 18 August 2025. The ex-dividend date is when the equity share price adjusts itself to reflect the next dividend payout. This day, the stock becomes ex-dividend, which means the shares do not carry the value of their next dividend payment from that day forward. The dividend issue will be payable to all the shareholders whose names appear on the company's list by the end of the record date. According to BSE data, many companies also announced other corporate actions, including bonus issues and stock splits. Aarti Industries Ltd, Bright Brothers Ltd, DHP India Ltd, JK Paper Ltd, Lakshmi Electrical Control Systems Ltd, Power Finance Corporation Ltd, Ram Ratna Wires Ltd, and Rose Merc Ltd. Apollo Hospitals Enterprise Ltd, Elixir Capital Ltd, Industrial & Prudential Investment Company Ltd, Jammu & Kashmir Bank Ltd, Natco Pharma Ltd, Power Grid Corporation of India Ltd, Refex Industries Ltd, R K Swamy Ltd, Shyam Metalics and Energy Ltd, Silver Touch Technologies Ltd, and Sumedha Fiscal Services Ltd. Bhansali Engineering Polymers Ltd, Colab Platforms Ltd, ECOS (India) Mobility & Hospitality Ltd, Him Teknoforge Ltd, Senco Gold Ltd, and Sukhjit Starch & Chemicals Ltd. AMJ Land Holdings Ltd, Bhandari Hosiery Exports Ltd, BSL Ltd, Coal India Ltd, Hindustan Aeronautics Ltd, Honda India Power Products Ltd, Kakatiya Cement Sugar & Industries Ltd, Manorama Industries Ltd, Pudumjee Paper Products Ltd, Relaxo Footwears Ltd, Rail Vikas Nigam Ltd, Styrenix Performance Materials Ltd, and Thomas Cook (India) Ltd. ABM Knowledgeware Ltd, Agi Greenpac Ltd, AK Capital Services Ltd, APL Apollo Tubes Ltd, ASM Technologies Ltd, Bannari Amman Sugars Ltd, Belrise Industries Ltd, Bhatia Communications & Retail (India) Ltd, DAPS Advertising Ltd, Deep Industries Ltd, Dhanashree Electronics Ltd, DMCC Speciality Chemicals Ltd, Dynacons Systems & Solutions Ltd, Dynamic Industries Ltd, eClerx Services Ltd, Federal Bank Ltd, Gujarat Ambuja Exports Ltd, Godfrey Phillips India Ltd, GE Vernova T&D India Ltd, HMA Agro Industries Ltd, IB Infotech Enterprises Ltd, Indigo Paints Ltd, Indian Railway Catering and Tourism Corporation Ltd (IRCTC), iStreet Network Ltd, Jasch Gauging Technologies Ltd, Jindal Steel & Power Ltd, Jindal Stainless Ltd, Sai Silks (Kalamandir) Ltd, KFin Technologies Ltd, Kuantum Papers Ltd, LIC Housing Finance Ltd, Lodha Developers Ltd, Mallcom (India) Ltd, Mayur Uniquoters Ltd, Global Health Ltd, NDL Ventures Ltd, Netweb Technologies India Ltd, Naturewings Holidays Ltd, Nicco Parks & Resorts Ltd, Omax Autos Ltd, Paradeep Phosphates Ltd, Procter & Gamble Health Ltd, Rajesh Power Services Ltd, Rajapalayam Mills Ltd, Sandesh Ltd, Sarda Energy & Minerals Ltd, Shree Digvijay Cement Company Ltd, Sportking India Ltd, United Drilling Tools Ltd, Upsurge Investment & Finance Ltd, Veljan Denison Ltd, and WEP Solutions Ltd. Algoquant Fintech Ltd: declared a bonus issue of shares at a ratio of 8:1. Shares will trade ex-bonus on Monday, 18 August 2025. Bemco Hydraulics Ltd: declared a bonus issue of shares at a ratio of 1:1. Shares will trade ex-bonus on Friday, 22 August 2025. A bonus issue is a corporate action that allows existing shareholders to subscribe for additional shares. Instead of increasing the dividend payout, companies offer to distribute additional shares to the shareholders. For example, the company may give out one bonus share for every ten shares held. Algoquant Fintech Ltd will undergo a stock split from ₹ 2 to ₹ 1. Shares will trade ex-split on Monday, 18 August 2025. Chandrima Mercantiles Ltd will undergo a stock split from ₹ 10 to ₹ 1. Shares will trade ex-split on Wednesday, 20 August 2025. Dev Information Technology Ltd will undergo a stock split from ₹ 5 to ₹ 2. Shares will trade ex-split on Thursday, 21 August 2025. Bemco Hydraulics Ltd will undergo a stock split from ₹ 10 to ₹ 1. Shares will trade ex-split on Friday, 22 August 2025. A stock split is a corporate action that occurs when a company issues additional shares to shareholders to boost liquidity. The total number of shares issued is increased by a specified ratio based on previously held shares. However, if the number of shares outstanding increases by a specific multiple, the total value (in rupees) of all shares outstanding remains the same because a split does not change the company's value. Most common split ratios are 2-for-1 or 3-for-1 (marked as 2:1 or 3:1). For every share held before the split, each stockholder will have two or three shares, respectively, after the split. National Highways Infra Trust - Income Distribution (InvIT) on Tuesday, 19 August 2025. Josts Engineering Company Ltd - Right Issue of Equity Shares on Wednesday, 20 August 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
News18
5 hours ago
- News18
From Rs 5,000 To Rs 40,000 Crore: Why Rakesh Jhunjhunwala Is Called The 'Big Bull' Of Dalal Street
Last Updated: In the early 2000s, he purchased Titan Company shares at Rs 30-Rs 40 apiece and the investment eventually delivered returns of over Rs 15,000 crore Rakesh Jhunjhunwala, fondly called the 'Big Bull' of Dalal Street, transformed a modest investment of just Rs 5,000 into a fortune exceeding Rs 40,000 crore, leaving behind one of the most inspiring legacies in the stock market history. Born on July 5, 1960, in Mumbai to a middle-class Marwari family, Jhunjhunwala grew up watching his father, an Income Tax Department officer, discuss the stock market with friends. Those conversations ignited his curiosity about equities. On his father's advice, he began reading newspapers daily to sharpen his understanding of business and market trends. Although he qualified as a chartered accountant after studying at Sydenham College, Jhunjhunwala shunned the security of a stable job. Instead, he plunged into the volatile world of stocks. His first investment, funded by borrowing Rs 5,000 from his brother, marked the beginning of a remarkable journey. In 1986, he took a bold gamble, raising additional capital from market experts at steep interest rates. His maiden big win came with Tata Tea, bought at Rs 43 a share, it surged to Rs 143 within three months, netting him about Rs 5 lakh. He followed this with smart bets on Tata Power and Sesa Goa. But his most iconic move came in the early 2000s, when Titan Company was struggling. Trusting the brand's long-term potential, he purchased shares at Rs 30-Rs 40 apiece, an investment that eventually delivered returns of over Rs 15,000 crore. 'Always go against the crowd. Buy when everyone is selling and sell when everyone is buying," Jhunjhunwala's simple yet powerful mantra became synonymous with his investing style. Through his firm RARE Enterprises, named after himself and his wife Rekha, he invested in several market leaders, including Star Health, Metro Brands, Tata Motors and CRISIL. From the 1992 securities scam to the 2008 global financial crisis, Jhunjhunwala demonstrated an uncanny ability to identify resilient companies during turbulent times. In 2021, he ventured into aviation with Akasa Air, which became the world's fastest-growing airline within a year. By the time of his passing in 2022, the Sensex had crossed the 59,000 mark, up by 150 points. In 2023, he was posthumously awarded the Padma Shri. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Click here to add News18 as your preferred news source on Google. Also Download the News18 App to stay updated. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
8 hours ago
- Mint
GST reforms, Putin-Trump meeting to US Fed rate cut: Top five factors that may dictate Indian stock market next week
Indian stock market next week: The Indian stock market finally snapped a six-week losing streak as extreme oversold conditions and supportive global cues lifted investor sentiment. The Nifty and Sensex ended the week with gains of around 1%, though momentum remained muted due to persistent foreign outflows. Foreign Institutional Investors (FIIs) continued their aggressive selling, offloading nearly ₹ 10,000 crore in the cash market, while Domestic Institutional Investors (DIIs) absorbed the pressure with strong buying worth ₹ 19,000 crore. Broader markets staged a recovery across sectors, led by pharma and auto stocks, though FMCG lagged. According to stock market experts, various domestic and global market triggers are expected to dictate Dalal Street movement. However, GST reforms announced by the Indian Prime Minister Narendra Modi in his Independence Day speech and the 'progress but no deal' outcome from the Trump-Putin meeting in Alaska are expected to play a dominant role during the first few sessions. However, they maintained that US Fed minutes, renewed fear of Trump's tariffs on India, favourable monsoon season in the domestic market, and Indian inflation hitting a record low are some other triggers, which can't be ignored. 1] Trump-Putin meeting outcome: Speaking on the result of the Putin-Trump meeting, Avinash Gorakshkar, a SEBI-registered fundamental analyst, said, "The most-awaited Trump-Putin meeting has ended with progress without any deal. Both leaders agreed to meet for the next round of talks, which is a good sign of ending the Russia-Ukraine war. Ahead of the meeting, the US President had vowed to walk out of the meeting if he didn't like Russian President Vladimir Putin's line of approach. However, after the end of the Trump-Putin meeting, both leaders talked positively, which may be a positive trigger for the global markets, including the Indian stock market." 2] GST reforms: Anuj Gupta, Director at Ya Wealth, said, "Bulls are expected to cheer PM Modi's announcement of GST reforms in his Independence Day speech. PM Modi has hinted at next-generation GST reforms by Diwali 2025, which is expected to boost consumption in India because GST is a consumption-oriented tax levied across the nation. As per the reports, the Government of India (GoI) has proposed shifting nearly 99% goods from the 12% GST slab to 5% and the same number of goods from the 28% GST slab to 18%. So the market may try to discount the GST reform, and we may see strong buying in consumption-oriented segments like FMCG, consumer durables, agriculture, etc." 3] US Fed minutes: Anuj Gupta said the US Fed rate cut will be in focus next week as the Central Bank of India is releasing the US Fed minutes on Wednesday next week. In the US Fed minutes, if the US Federal Reserve drops any hint of a rate cut, the market is expected to cheer as FPIs' outflow may get paused after this announcement. The US Fed rate cut decision is expected to put pressure on the US Treasury Yields and the US Dollar, and hence FIIs may fish out money from these assets and look at the emerging equity market, including Dalal Street. However, with no rate cut hint, strong selling from the FIIs can lead to a further rise in the US bonds and the US Dollar against major global currencies. 4] Trump's tariffs on India: "After progress with no deal as an outcome from the Trump-Putin meeting in Alaska, focus has now shifted to the Trump-Zelensky meeting. However, the Indian market may not react sharply to this Trump-Putin meeting outcome, as the market was not expecting a breakthrough in the first meeting. So, there is no surprise element for the global markets, which includes Dalal Street," said Avinash Gorakshkar. On why renewed fear of Trump's tariffs on India may not significantly impact the current scenario, Gaurav Goel, Founder & Director at Fynocrat Technologies, said, "Our growth does not rely on any single export market. Domestic consumption, services, manufacturing, and technology create a broad base that cannot be easily shaken by a single policy decision abroad. Even if the full set of proposed tariffs comes into effect, experts estimate the impact on India's GDP to be less than 0.2 per cent. This is a reminder of how small this challenge is in our overall economy." 5] Positive macro factors in India: Highlighting the strong and positive macro factors that may play a significant role on Dalal Street, Santosh Meena, Head of Research at Swastika Investmart, said, "The positive domestic factors — easing interest rate, inflation at record low and favourable monsoon, etc.- are expected to play a major role in the Indian stock market next week. These macro factors, coupled with the GST reforms, may trigger a bullish reversal in Indian equities, even as tariff-related headwinds persist globally." Speaking on the outlook of the Nifty 50 today, Santosh Meena said, "From a technical standpoint, the Nifty 50 index has established a strong base at the 24,350 level, forming a bullish engulfing candlestick pattern on the weekly chart. The immediate resistance lies at the 20 and 50-day moving averages (DMAs) clustered around 24,700-24,800. A decisive break above this level could trigger a short-covering rally towards 24,950, 25,080, and 25,225. Immediate support is at the 100-DMA of 24,575, with the crucial support level remaining at 24,350." "The Bank Nifty index has also found a strong base at its 100-DMA of 55,000. The immediate hurdle for the banking index is the 20 and 50-DMAs around 55,800. A move above this level could propel it towards 56,400, 57,000, and 57,350. Fresh weakness is only anticipated if the index falls below the 55,000 mark," Santosh Meena of Swastika Investmart said. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
