In past one month, shares of RITES rallied 61% against 4% rise in the S&P BSE Sensex.
RITES is a wholly owned Government Company, a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise. It is a leading player in the transport consultancy and engineering sector in India and the only company having diversified services and geographical reach in this field under one roof.
RITES has a strong order book of Rs 55.17 billion as of date on a standalone basis. The company has recently secured a major export order of Rs 5.67 billion for the supply of Broad Gauge passenger air-conditioned and non air-conditioned coaches which are expected to be exported within 27 months of the opening of Letter of Credit.
RITES expected 22% year on year growth in consolidated operational revenue (excluding other income) at Rs 18.35 billion for the financial year 2018-19 (FY19).
The board of directors of the Company is scheduled to meet on August 27, 2018, to consider and approve unaudited financial results for the quarter ended on June 30, 2018 (Q1FY19).