INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Recently-listed Rail India Technical and Economic Services (RITES) jumped 15 per cent on Friday to hit a fresh high of Rs 326.55
The stock has made solid advances since its listing on July 2.
The state-owned company's IPO, which ran during June 20-22, was a blockbuster
hit as the issue was subscribed 67 times
The price band was fixed at Rs 180-185 per share with face value of Rs 10
The stock was listed at Rs 190 on the NSE, a 2.7 per cent premium over the issue price of Rs 185.
RITES is a leading player in the transport
consultancy and engineering sector in India and the only company with diversified services and wide geographical reach
It is the only export arm of Indian Railways that provides rolling stock overseas other than Thailand, Malaysia and Indonesia, according to
the company's DRHP.
The consyltancy firm posted 73 per cent rise in standalone profit at Rs 82 crore for the quarter ended on March 30, 2018
The company had posted a standalone profit of Rs 47.38 crore in the year-ago period
The standalone revenue of the company in the January-March period increased to Rs 587.9 crore, over Rs 436.8 crore in the year ago
period.
The company is slated to release its June quarter results on August 27, it said in a BSE filing on Friday
At 02:18 am, the stock was trading 10.53 per cent higher at Rs 314.85 apiece on BSE.
