Rites announced that received an order from Karnataka Mining Environment Restoration Corporation for construction of Railway PFT's at Dharmapura and Susheel Nagar in Ballari District under CEPMIZ for KMERC, was earlier awarded on Project Management Consultancy (PMC) basis has now been converted into turnkey basis. The value of the order is Rs 453.99 crore. Powered by Capital Market - Live

RITES will hold a meeting of the Board of Directors of the Company on 6 November 2024.Powered by Capital Market - Live

Torrent Power Ltd, Elgi Equipments Ltd, Birla Corporation Ltd, ZF Commercial Vehicle Control System India Ltd are among the other stocks to see a surge in volumes on NSE today, 09 October 2024.Rites Ltd saw volume of 206.41 lakh shares by 14:14 IST on NSE, a 7.93 fold spurt over two-week average daily volume of 26.04 lakh shares. The stock increased 8.99% to Rs.327.35. Volumes stood at 34.94 lakh shares in the last session.Torrent Power Ltd recorded volume of 42.02 lakh shares by 14:14 IST on NSE, a 7.07 times surge over two-week average daily volume of 5.94 lakh shares. The stock gained 6.10% to Rs.1,927.50. Volumes stood at 5.09 lakh shares in the last session.Elgi Equipments Ltd witnessed volume of 11.76 lakh shares by 14:14 IST on NSE, a 5.52 times surge over two-week average daily volume of 2.13 lakh shares. The stock increased 4.81% to Rs.672.50. Volumes stood at 2.5 lakh shares in the last session.Birla Corporation Ltd clocked volume of 5.17 lakh shares by 14:14 IST on NSE, a 3.98 times surge over two-week average daily volume of 1.30 lakh shares. The stock gained 1.10% to Rs.1,232.40. Volumes stood at 96551 shares in the last session.ZF Commercial Vehicle Control System India Ltd recorded volume of 29202 shares by 14:14 IST on NSE, a 3.83 times surge over two-week average daily volume of 7619 shares. The stock lost 0.68% to Rs.15,256.15. Volumes stood at 18518 shares in the last session.Powered by Capital Market - Live

RITES signed a Memorandum of Understanding (MoU) with Etihad Rail, the developer and operator of the UAE National Rail Network, to explore cooperation and synergise strengths in developing railways and related infrastructure services in the UAE and wider region. The partnership aims at leveraging strengths of both the entities to explore collaborative opportunities for supply/leasing of rolling stock, consultancy and project management for railway projects, services such repairing of rolling stock and operation & maintenance of railway infrastructure to ensure more efficient and modernised rail services in the UAE and across the region. Another key initiative, under the terms of the MoU, is the capacity analysis of rail corridors in the UAE and nearby geographies, thus aiming to help improving efficiency, streamlining logistics and enhancing trade routes. Emphasizing on innovation and the use of cutting-edge technology, both parties will explore advanced IT solutions for train operations & passenger management and technical inputs on maintenance practices. Leveraging the unique strengths of both entities, the partnership will also entail knowledge transfer, expertise sharing, and workforce development. Comprehensive training programmes and employeeexchange initiatives form crucial elements of the partnershipPowered by Capital Market - Live

The locomotives would be fitted with new cape gauge bogies, traction motors, control system air braked, etc. They would be overhauled at nominated facility and an on-site warranty support would be provided for a period of one year. The order has to executed within a period of six months. The value of the aforementioned contract is $5.4 million, which at the prevailing exchange translates to Rs 45.33 crore. RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 24.37% to Rs 90.44 crore in Q1 FY25 as against Rs 119.58 crore recorded in Q1 FY24. Revenue from operations declined 10.76% to Rs 485.76 crore in the quarter ended 30 June 2024 from Rs 544.35 crore posted in Q1 FY24. The scrip gained 0.34% to currently trade at Rs 296.75 on the BSE. It has hit a high of Rs 298.65 and a low of Rs 292.30 so far in today's trading session. In the last six months, the stock has lost 14.93% while the S&P BSE 500 index has gained 11.45%. Powered by Capital Market - Live

RITES has secured an export order worth USD 5.40 million from Ntokoto Rail Holdings for Supply and commissioning of overhauled in-service Cape Gauge ALCO Diesel Electric Locomotives fitted with new Cape Gauge Bogies, Traction Motors, Control System Air braked, etc. overhauled at nominated facility and on-site warranty support for one year. Powered by Capital Market - Live

RITES signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC), which is renowned for operating and maintaining Delhi's extensive metro rail network. Through this MoU, both organizations will combine their strengths to identify, secure, and execute metro projects in India and abroad. This strategic collaboration will focus on offering services in areas including General Consultancy, Project Management, Detailed Design, Feasibility Studies and others. The partnership aims at tapping opportunities in the urban transit system space, delivering world-class solutions for both domestic and international projects. Also, the alliance syncs with RITES' ongoing efforts to expand its global footprint under its 'RITES Videsh' initiative. With DMRC's extensive experience in metro rail operations and RITES' proven expertise in transport infrastructure, both entities are well-positioned to pursue emerging opportunitiesPowered by Capital Market - Live

This strategic collaboration will focus on offering services in areas including General Consultancy, Project Management, Detailed Design, Feasibility Studies and others. The partnership aims at tapping opportunities in the urban transit system space, delivering world-class solutions for both domestic and international projects. Also, the alliance syncs with Rites' ongoing efforts to expand its global footprint under its 'Rites Videsh' initiative. With DMRC's extensive experience in metro rail operations and Rites' proven expertise in transport infrastructure, both entities are well-positioned to pursue emerging opportunities. Rites, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 30 September 2024, the Government of India held 72.20% stake in the company. The company's consolidated net profit declined 24.37% to Rs 90.44 crore in Q1 FY25 as against Rs 119.58 crore recorded in Q1 FY24. Revenue from operations declined 10.76% to Rs 485.76 crore in the quarter ended 30 June 2024 from Rs 544.35 crore posted in Q1 FY24. Shares of RITES slipped 3.43% to currently trade at Rs 323.20 on the BSE. Powered by Capital Market - Live

Rites has received the LOA from Tsiko Africa Logistics for supply, commissioning and one year onsite warranty of overhauled in-service Cape Gauge 3100 HP, diesel electric locomotive. The contract is valued at USD 4.28 million. Powered by Capital Market - Live

RITES has received the LOA for providing Railway Operation & Maintenance Services at the Dhamra Port Company Ltd from Adani Ports & SEZ Limited (APSEZ) amounting to Rs.100 Crores (Approx.) plus GST for a time frame of 5 years effect from 1 November 2024.Powered by Capital Market - Live