The public sector enterprise RITES having Category I schedule ‘A’, is a leading sector in India. Also, the company is part of India’s transport consultancy and engineering sector. On Monday, RITES advanced 2.50 per cent to Rs 296.90. For a new business order of Adani group with their joint venture for the redevelopment of Kollam Railway station for Rs Rs 361.18 crore from Southern Railway, Ernakulam, Kerala.

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The Government of India (GOI) held a shareholding of 72.2 per cent in RITES as of 30 June 2022 for the export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).

The company’s consolidated net profit was Rs 136.75 crore in the fourth quarter of the financial year 2022 from Rs 137.73 crore posted in the fourth quarter of the financial year 2021. As the last quarter ended 31 March 2022, the net sales surged 21.7 per cent to 766.02 from Rs 629.36 crore recorded in 2021. During the same period, the company’s stock has gained 22.59 per cent while the benchmark Sensex has added 2.49 per cent.