India's RITES up on collaboration with Damodar Valley Corp

Rites

18/06/2024 06:18

** Shares of engineering co RITES  RITS.NS  rise as much as
3% to 726 rupees, last up 1.4%
    ** Co collaborates with Damodar Valley Corporation,  a
statutory body under the Ministry of Power, for rail
infrastructure work in West Bengal and Jharkhand
    ** RITES did not immediately respond to a Reuters' request
for providing additional details regarding material impact of
collaboration
    ** Stock on track for second straight session of gains
    ** Five analysts covering the stock on average have a "buy"
rating; median PT at 750 rupees - LSEG data
    ** RITES up ~42% YTD, had gained 48% in 2023 for second
consecutive year of gains


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))