RITES shares gain 6% on signing MoU with Delhi Metro

18 Jun 2024 CW Team

Following the railway company's signing of a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation Ltd. (DMRC) for the operations and management projects of Metro Railway Systems, the share price of RITES increased by 6% to Rs 721 each on the BSE on Friday. As per the exchange filing of the railway company, RITES Ltd. and DMRC have inked a Memorandum of Understanding (MoU) to cooperate on all-encompassing operations and management projects of Metro Railway Systems, encompassing Rolling Stock, Depot Management, Station Management, and Railway infrastructure maintenance, both domestically and internationally. According to the filing, the purpose of the MoU is to expedite the process of collaboratively investigating, identifying, obtaining, and carrying out consulting assignments for the management and operations of Metro/LRT/Mass Rapid Transit Systems in India and elsewhere. "As a part of this collaboration, DMRC and RITES will work together in tandem, leveraging each other's strengths and enhancing business capabilities," RITES stated. RITES was up 4% at Rs 707.05 a share at 1:00 PM, while the benchmark BSE Sensex had gained 0.16%. On February 27 of this year, the stock reached a record high of Rs 826 a share. On July 2, 2018, it fell to an all-time low of Rs 152. The price of RITES shares has increased by 792.2% in the last year, compared to a roughly 25% increase in the benchmark indices. With a wide range of services and a significant geographic reach, RITES is a Navratna public sector enterprise (PSE) and one of the top companies in India's transport consulting and engineering industries. In the meantime, RITES and Eastern Railway's Andal Diesel Shed, Asansol Division, West Bengal, inked a Memorandum of Understanding (MoU) on June 11 to establish a framework for cooperation on major schedule repair and maintenance of diesel-electric locomotives owned by RITES and other clients at the Andal Diesel Shed facility. The cooperation seeks to expedite the process of maintaining and repairing diesel locomotives. "As part of this collaboration, RITES will secure or identify business opportunities for higher-schedule repairs, while the Andal Diesel Shed will execute the maintenance work," stated RITES. Due to low revenues, RITES's consolidated net profit for the January?March quarter was Rs 13.66 billion, a 1.6% decrease from the previous year. From Rs 7.05 billion during the same time last year to Rs 6.67 billion this quarter, the company's overall income decreased. A final dividend of Rs 5 per equity share was suggested by the board.

Following the railway company's signing of a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation Ltd. (DMRC) for the operations and management projects of Metro Railway Systems, the share price of RITES increased by 6% to Rs 721 each on the BSE on Friday. As per the exchange filing of the railway company, RITES Ltd. and DMRC have inked a Memorandum of Understanding (MoU) to cooperate on all-encompassing operations and management projects of Metro Railway Systems, encompassing Rolling Stock, Depot Management, Station Management, and Railway infrastructure maintenance, both domestically and internationally. According to the filing, the purpose of the MoU is to expedite the process of collaboratively investigating, identifying, obtaining, and carrying out consulting assignments for the management and operations of Metro/LRT/Mass Rapid Transit Systems in India and elsewhere. As a part of this collaboration, DMRC and RITES will work together in tandem, leveraging each other's strengths and enhancing business capabilities, RITES stated. RITES was up 4% at Rs 707.05 a share at 1:00 PM, while the benchmark BSE Sensex had gained 0.16%. On February 27 of this year, the stock reached a record high of Rs 826 a share. On July 2, 2018, it fell to an all-time low of Rs 152. The price of RITES shares has increased by 792.2% in the last year, compared to a roughly 25% increase in the benchmark indices. With a wide range of services and a significant geographic reach, RITES is a Navratna public sector enterprise (PSE) and one of the top companies in India's transport consulting and engineering industries. In the meantime, RITES and Eastern Railway's Andal Diesel Shed, Asansol Division, West Bengal, inked a Memorandum of Understanding (MoU) on June 11 to establish a framework for cooperation on major schedule repair and maintenance of diesel-electric locomotives owned by RITES and other clients at the Andal Diesel Shed facility. The cooperation seeks to expedite the process of maintaining and repairing diesel locomotives. As part of this collaboration, RITES will secure or identify business opportunities for higher-schedule repairs, while the Andal Diesel Shed will execute the maintenance work, stated RITES. Due to low revenues, RITES's consolidated net profit for the January?March quarter was Rs 13.66 billion, a 1.6% decrease from the previous year. From Rs 7.05 billion during the same time last year to Rs 6.67 billion this quarter, the company's overall income decreased. A final dividend of Rs 5 per equity share was suggested by the board.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..