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 Urban

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Infrastructure Transport

07 Oct 2025

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Infrastructure Transport

07 Oct 2025

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..