Railway Stock News: The share price of Rites Limited, a government company in the railway sector, has seen an increase of more than 6 percent. This rise in the company’s shares has been seen after the MoU with the Delhi Metro Rail Corporation. Let us tell you that the intra-day high of Rits Limited is Rs 721 per share.
Shares of the company in BSE Rs. opened at the level of 690.05. But shortly after, the company’s share price rose more than 6 percent to Rs. It touched an intra-day high of 721.
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What will happen under this MoU?
Both the companies will work together on metro railway, rolling stock, depot management, station management, railway infrastructure maintenance etc. The company will work in India as well as abroad. Let us tell you that earlier on June 11, the company had signed an MoU with Eastern Railway and Diesel Shed. While on June 6 Tata Steel Rs. 39.63 crore project was given.
Company on 1 share Rs. Paying a dividend of 150 as of today, keep an eye on the stock
How is the stock market doing?
According to Trendlyne data, the company’s share price has seen an increase of more than 21 percent in the past one month. At the same time, the share price has increased by more than 40 percent in the last 6 months. Let us tell you that the stock price has increased by 85.9 percent in one year.
The total shareholding of the government in RITS Limited is 72.20 percent. While LIC has 6.3 percent stake. Let us tell you that the 52-week high level of the company is Rs.826.15 and the 52-week low level is Rs.365.
MF reduced its stake
Mutual funds have reduced their stake in this company. In December 2023, the share of mutual funds in the company was 4.75 percent. Which has decreased to 3.38 percent in March. On the other hand, foreign investors have increased their stake in the company.