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Time of India
12 hours ago
- Business
- Time of India
RITES shares in focus after MoU with Hindustan Copper to build critical mineral supply chain
RITES Ltd shares are likely to attract investor interest on Monday, June 9, following the announcement that the company has signed a strategic Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL) to jointly build a robust and self-reliant mineral supply chain . 'RITES Ltd., the leading Transport Infrastructure Consultancy and Engineering firm, today signed a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL), a CPSE under the Ministry of Mines, to jointly develop a rapid, reliable, and sustainable supply chain of metals and minerals, including critical minerals in India and overseas,' the company informed via its regulatory filing. In its press release, the transport infrastructure consultancy and engineering firm said the MoU aims to facilitate the development of a rapid, reliable, and sustainable supply chain of metals and minerals, with a focus on critical minerals, both in India and internationally. HCL, a Central Public Sector Enterprise under the Ministry of Mines, will collaborate with RITES in exploration, extraction, refining, and production activities. The partnership will also include participation in mineral block auctions and the development of mining infrastructure. RITES will extend end-to-end consultancy and logistics support for project planning, multimodal transport solutions, infrastructure development, and rolling stock support to enhance HCL's mining operations. Live Events This MoU is expected to further the government's agenda of mineral security and economic resilience by fostering sustainable growth in the mining and infrastructure sectors. Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah RITES share price performance The stock of RITES has recorded a 1-year decline of 7.20%, indicating a negative return over the longer term. However, on a year-to-date (YTD) basis, the stock is up 1.63%, and the 6-month return stands at a modest 1.37%. In contrast, the 3-month performance has been strong with a 41% gain, while the 1-month return is also robust at 35.37%, reflecting a sharp recovery in recent weeks. On Friday, RITES shares closed nearly 3% lower at Rs 300.05 on the BSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
12 hours ago
- Business
- Time of India
RailTel shares in focus on bagging 2 government orders worth Rs 259 crore
RailTel Corporation of India (RailTel) shares are likely to be in the spotlight Monday, June 9, following the announcements that the company has secured two significant work orders worth a cumulative Rs 258.96 crore from government entities in Bihar and Himachal Pradesh. Here are the details: Order 1: Rs 243 crore contract from Bihar Education Project Council As per a regulatory filing, RailTel received a work order from the Bihar Education Project Council (BEPC) for the supply of Student Kits to students of classes 1 to 12 at government schools across Bihar. The contract is valued at Rs 2,43,11,35,577 (including tax) and is scheduled to be executed by August 14, 2025. The order has been classified as a domestic supply contract. RailTel confirmed that the transaction does not fall under related-party transactions and that no promoter group interest is involved. Live Events Order 2: Rs 15.96 crore order from Himachal Pradesh's Education Department In a separate order, RailTel also received a contract worth Rs 15,96,54,450 from the Department of Education, Samagra Shiksha, Himachal Pradesh. This contract entails the supply of UPS systems and printers to 5,507 government schools across the state. Similar to the Bihar order, this contract is also a domestic supply order with no involvement of related parties. The execution deadline for this contract has been set for October 6, 2025. Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah RailTel share price history The RailTel stock has delivered a 17.42% gain in the past 1 year, while the year-to-date (YTD) return stands at 9.67%. Over the last 6 months, the stock is up by a modest 1.90%, whereas the 3-month return is significantly higher at 50.16%. Notably, the 1-month performance shows a sharp rise of 46.62%, indicating strong recent momentum. On Friday, RailTel shares closed 3.7% lower at Rs 444.10 on the BSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
12 hours ago
- Business
- Economic Times
RailTel shares in focus on bagging 2 government orders worth Rs 259 crore
RailTel Corporation of India (RailTel) shares are likely to be in the spotlight Monday, June 9, following the announcements that the company has secured two significant work orders worth a cumulative Rs 258.96 crore from government entities in Bihar and Himachal Pradesh. ADVERTISEMENT As per a regulatory filing, RailTel received a work order from the Bihar Education Project Council (BEPC) for the supply of Student Kits to students of classes 1 to 12 at government schools across Bihar. The contract is valued at Rs 2,43,11,35,577 (including tax) and is scheduled to be executed by August 14, order has been classified as a domestic supply contract. RailTel confirmed that the transaction does not fall under related-party transactions and that no promoter group interest is involved. ADVERTISEMENT In a separate order, RailTel also received a contract worth Rs 15,96,54,450 from the Department of Education, Samagra Shiksha, Himachal contract entails the supply of UPS systems and printers to 5,507 government schools across the state. ADVERTISEMENT Similar to the Bihar order, this contract is also a domestic supply order with no involvement of related parties. The execution deadline for this contract has been set for October 6, 2025. Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah ADVERTISEMENT The RailTel stock has delivered a 17.42% gain in the past 1 year, while the year-to-date (YTD) return stands at 9.67%. Over the last 6 months, the stock is up by a modest 1.90%, whereas the 3-month return is significantly higher at 50.16%. Notably, the 1-month performance shows a sharp rise of 46.62%, indicating strong recent momentum. On Friday, RailTel shares closed 3.7% lower at Rs 444.10 on the BSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
12 hours ago
- Business
- Economic Times
RITES shares in focus after MoU with Hindustan Copper to build critical mineral supply chain
RITES Ltd shares are likely to attract investor interest on Monday, June 9, following the announcement that the company has signed a strategic Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL) to jointly build a robust and self-reliant mineral supply chain. ADVERTISEMENT 'RITES Ltd., the leading Transport Infrastructure Consultancy and Engineering firm, today signed a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL), a CPSE under the Ministry of Mines, to jointly develop a rapid, reliable, and sustainable supply chain of metals and minerals, including critical minerals in India and overseas,' the company informed via its regulatory filing. In its press release, the transport infrastructure consultancy and engineering firm said the MoU aims to facilitate the development of a rapid, reliable, and sustainable supply chain of metals and minerals, with a focus on critical minerals, both in India and internationally. HCL, a Central Public Sector Enterprise under the Ministry of Mines, will collaborate with RITES in exploration, extraction, refining, and production partnership will also include participation in mineral block auctions and the development of mining infrastructure. RITES will extend end-to-end consultancy and logistics support for project planning, multimodal transport solutions, infrastructure development, and rolling stock support to enhance HCL's mining MoU is expected to further the government's agenda of mineral security and economic resilience by fostering sustainable growth in the mining and infrastructure sectors. ADVERTISEMENT Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah The stock of RITES has recorded a 1-year decline of 7.20%, indicating a negative return over the longer term. However, on a year-to-date (YTD) basis, the stock is up 1.63%, and the 6-month return stands at a modest 1.37%. In contrast, the 3-month performance has been strong with a 41% gain, while the 1-month return is also robust at 35.37%, reflecting a sharp recovery in recent weeks. ADVERTISEMENT On Friday, RITES shares closed nearly 3% lower at Rs 300.05 on the BSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
12 hours ago
- Business
- Time of India
MCX shares in focus after Sebi approves launch of electricity derivatives
Shares of Multi Commodity Exchange of India (MCX) are likely to be in focus on Monday, June 9, after the bourse received regulatory approval to launch electricity derivatives—a first for India and a landmark development in the evolution of its energy trading landscape. 'The Multi Commodity Exchange of India Ltd. (MCX), India's leading commodity derivatives exchange , has received approval from the Securities and Exchange Board of India (Sebi) to launch electricity derivatives , marking a significant milestone in the evolution of India's energy trading landscape,' the company said in a regulatory filing. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo In a press release dated June 6, MCX announced that it has received the green light from SEBI to introduce electricity derivatives contracts. Also read: F&O Talk | June series shows positive bias for Nifty, Bank Nifty over 18-year trend: Sudeep Shah This development, widely regarded as a major breakthrough, is expected to deepen India's energy markets and support the country's transition towards a more dynamic and sustainable power sector. Live Events The launch—backed by both SEBI and the Central Electricity Regulatory Commission (CERC)—marks MCX's entry into a new asset class. It will enable electricity generators, distribution companies, and large consumers to hedge against price volatility and manage power market risks more effectively. MCX stated that this landmark initiative not only positions it as a torchbearer of innovation in commodity trading but also reinforces India's broader ambition of sustainable energy and capital market development. The exchange added that the move marks a pivotal step toward deepening India's energy markets and aligns with the broader vision of Viksit Bharat . 'The introduction of electricity derivatives marks a pivotal development in India's commodities ecosystem. These contracts will offer participants a reliable, transparent, and regulated platform to manage power price risks, which are becoming more dynamic due to renewables and market-based reforms. With India's growing focus on renewable energy and open access power markets, electricity derivatives can serve as a vital bridge between the physical and financial sectors,' said Praveena Rai, MD & CEO of MCX. On Friday, MCX shares closed 4.5% higher at Rs 7,419.65 on the BSE. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
