Latest news with #CapeGauge
Economic Times
02-07-2025
- Business
- Economic Times
Rites shares jump 6% after winning $3.6 million international order
Rites shares rallied over 6% to Rs 296 on Wednesday after the company announced a significant international contract win, signaling a positive addition to its order pipeline. ADVERTISEMENT On July 1, 2025, RITES announced that it had secured a USD 3.6 million purchase order from African Rail Company for the supply and commissioning of two fully overhauled ALCO diesel-electric locomotives. These locomotives will be deployed in Zimbabwe, Mozambique, and Botswana. The project includes supply of Cape Gauge ALCO locomotives equipped with new bogies, traction motors, air brakes, and control systems, along with warranty support and technical deployment from RITES. The contract is expected to be executed within 9 months. Shares of RITES Ltd rose 6% to Rs 296, compared to the previous close of Rs 279. With this move, the company's market capitalization now stands at Rs 13,411.25 the past three months, the stock has delivered a strong 25% gain, reflecting sustained investor interest and positive business developments. The stock is currently trading well above its 52-week low of Rs 192.40, but remains below its 52-week high of Rs 398.45, leaving room for further upside if momentum continues. ADVERTISEMENT From a valuation standpoint, Rites is trading at a price-to-earnings (PE) ratio of 34.09 and a price-to-book (PB) ratio of 4.88, suggesting moderate-to-high investor expectations relative to earnings and asset the technical front, the Relative Strength Index (RSI-14) stands at 50.9, indicating a neutral zone — neither overbought nor oversold. (RSI below 30 signals an oversold condition, while above 70 indicates overbought levels.) ADVERTISEMENT Moreover, RITES is currently trading above all 8 key Simple Moving Averages (SMAs) — ranging from the 5-day to the 200-day — which is typically considered a bullish signal, highlighting strong underlying momentum. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
02-07-2025
- Business
- Time of India
Rites shares jump 6% after winning $3.6 million international order
Rites shares rallied over 6% to Rs 296 on Wednesday after the company announced a significant international contract win , signaling a positive addition to its order pipeline . On July 1, 2025, RITES announced that it had secured a USD 3.6 million purchase order from African Rail Company for the supply and commissioning of two fully overhauled ALCO diesel-electric locomotives . These locomotives will be deployed in Zimbabwe, Mozambique, and Botswana. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Klik Di Sini Undo The project includes supply of Cape Gauge ALCO locomotives equipped with new bogies, traction motors, air brakes, and control systems, along with warranty support and technical deployment from RITES. The contract is expected to be executed within 9 months. Stock Price, Valuation & Technical Overview Shares of RITES Ltd rose 6% to Rs 296, compared to the previous close of Rs 279. With this move, the company's market capitalization now stands at Rs 13,411.25 crore. Live Events Over the past three months, the stock has delivered a strong 25% gain, reflecting sustained investor interest and positive business developments. The stock is currently trading well above its 52-week low of Rs 192.40, but remains below its 52-week high of Rs 398.45, leaving room for further upside if momentum continues. From a valuation standpoint, Rites is trading at a price-to-earnings (PE) ratio of 34.09 and a price-to-book (PB) ratio of 4.88, suggesting moderate-to-high investor expectations relative to earnings and asset base. On the technical front, the Relative Strength Index (RSI-14) stands at 50.9, indicating a neutral zone — neither overbought nor oversold. (RSI below 30 signals an oversold condition, while above 70 indicates overbought levels.) Moreover, RITES is currently trading above all 8 key Simple Moving Averages (SMAs) — ranging from the 5-day to the 200-day — which is typically considered a bullish signal, highlighting strong underlying momentum.
Business Upturn
02-07-2025
- Business
- Business Upturn
RITES shares jump 3% after company bags $3.6 million order from African Rail Company
By Aman Shukla Published on July 2, 2025, 09:17 IST RITES shares rose nearly 3% in morning trade after the company bagged a new international contract worth $3.6 million from the African Rail Company. As of 9:17 AM, the shares were trading 3.71% higher at Rs 289.40. The order involves supplying and commissioning two fully overhauled ALCO diesel-electric locomotives built to Cape Gauge specifications. These locomotives will be deployed across Zimbabwe, Mozambique, and Botswana—expanding RITES' global footprint in railway solutions. As part of the project, RITES will carry out a comprehensive refurbishment of the locomotives. The upgrade includes new bogies, traction motors, control systems, and air brake systems. The overhauling work will be executed at a designated RITES facility. The company will also provide on-site technical support for commissioning and warranty-related services, ensuring smooth operational deployment for the client. The entire project is expected to be completed within nine months. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
01-07-2025
- Business
- Business Upturn
RITES secures $3.6 million order for overhauled locomotives from African Rail Company
RITES has recently informed exchanges that the company secured a new international order worth $3.6 million from the African Rail Company. The agreement involves the supply and commissioning of two fully overhauled ALCO diesel-electric locomotives. These locomotives, built to Cape Gauge specifications, will be deployed across Zimbabwe, Mozambique, and Botswana. As part of the order, RITES will refurbish the locomotives with new bogies, traction motors, control systems, and air brake systems. The overhauling work will take place at a designated facility, with RITES also providing technical support through an on-site team to ensure smooth commissioning and warranty services. Advertisement This order is expected to be executed over a nine-month period. It marks another step in RITES' continuing engagement with international clients in the railway infrastructure space. In the meantime, RITES shares closed at ₹279.00 today, slightly down from the opening price of ₹280.60. During the day, the stock touched a high of ₹282.20 and a low of ₹277.50. The current price is well below its 52-week high of ₹398.45 but remains above the 52-week low of ₹192.40.
