Shares of RITES Ltd ended 2.5% increased, after touching a day’s excessive of Rs 253.23 on 1st October, following the corporate’s announcement that it has signed a memorandum of understanding (MoU) with Etihad Rail and its subsidiary, Nationwide Infrastructure Development Firm (NICC) LLC, to strengthen enterprise collaboration within the mobility sector throughout the UAE and past.
The MoU was signed by H.E. Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Director of RITES Ltd. It was within the presence of His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Etihad Rail, and H.E. Sunjay Sudhir, Ambassador of India to the UAE. This befell through the World Rail Transport Infrastructure Exhibition & Convention in Abu Dhabi.
The partnership will mix RITES’ 5 many years of experience in consultancy, transport infrastructure, and engineering options. This may be a part of with NICC’s execution strengths to create synergies for infrastructure tasks within the area.
RITES First Quarter Outcomes
RITES reported a slight 0.7% year-over-year rise in internet revenue to Rs 91 crore. Income grew 0.8% to Rs 489.7 crore, in contrast with Rs 485.8 crore in the identical quarter final 12 months.
EBITDA rose 7.8% to Rs 114 crore, with margins bettering by 150 foundation factors to 23.3%.
The corporate additionally introduced its first interim dividend for FY 2025-26 at Rs 1.30 per share. The file date is ready as twelfth August, 2025.
At 3:30 PM, the shares of RITES ended 2.42% increased at Rs 252 on NSE.
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