India's RITES up on rail infra development deal with DVC

Rites

25/04/2024 06:51

** Shares of engineering and consultancy company RITES
 RITS.NS  rise as much as 2.6% before trimming some gains, last
up 1.7% at 685.7 rupees 
    ** Co signed partnership with Damodar Valley Corporation
(DVC), a statutory body of Ministry of Power, to develop rail
connectivity infrastructure for power plants and its surrounding
areas 
    ** Stock up 6% so far this week, on track to log weekly
gains after two straight weekly losses
    ** Avg rating of 5 analysts on the stock is "hold", their
median PT is 683 rupees - slightly higher than last closing
price of 674.45 rupees - per LSEG data 
    ** Including session's gains, stock up ~37% YTD
    



 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))