India's RITES Ltd rises on signing MoU with UltraTech Cement

Rites

26/04/2024 11:00

** Engineering and consultancy firm RITES Ltd's  RITS.NS 
shares up as much as 3.1% to 707.50 rupees; last up 1.8%
    ** Company signs MoU with UltraTech Cement  ULTC.NS  for
project management consultancy services of rail infra projects
    ** UltraTech shares up 0.2%
    ** RITS set to snap two straight weeks of losses if trends
hold
    ** 2 of 5 brokerages rate stock "strong buy", 1 "sell", 1
"strong sell", 1 "hold"; median PT 683 rupees - LSEG
    ** Stock has been trading above its 200-day moving avg since
August 2022
    ** Including session's gain, RITES shares up ~39% YTD

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330))