Rites is currently trading at Rs. 224.35, up by 2.40 points or 1.08% from its previous closing of Rs. 221.95 on the BSE.
The scrip opened at Rs. 223.90 and has touched a high and low of Rs. 227.15 and Rs. 223.05 respectively. So far 6603 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 257.12 on 14-Nov-2018 and a 52 week low of Rs. 160.48 on 19-Feb-2019.
Last one week high and low of the scrip stood at Rs. 241.45 and Rs. 209.70 respectively. The current market cap of the company is Rs. 5603.75 crore.
The promoters holding in the company stood at 87.40%, while Institutions and Non-Institutions held 4.87% and 7.73% respectively.
Rites has signed an agreement with a foreign client for receipt of payment of an amount of around Rs 92 crore on or before September 15, 2019 being outstanding payment due to the company, for which arbitration proceedings were already initiated.
The company has agreed to withdraw the arbitration proceedings on receipt of the total payment. Out of this amount, around Rs 66 crore is towards principal which is already provided for in the books of the company and around Rs 26 crore is towards interest income which is not yet recognised due to uncertainty.
RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.