Rites shares jump 6% after winning $3.6 million international order
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
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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.
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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.
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