On July 1, 2025, RITES announced that it had secured a USD 3.6 million purchase order from African Rail Company for the supply and commissioning of two fully overhauled ALCO diesel-electric locomotives. These locomotives will be deployed in Zimbabwe, Mozambique, and Botswana.

The project includes supply of Cape Gauge ALCO locomotives equipped with new bogies, traction motors, air brakes, and control systems, along with warranty support and technical deployment from RITES. The contract is expected to be executed within 9 months.

Shares of RITES Ltd rose 6% to Rs 296, compared to the previous close of Rs 279. With this move, the company’s market capitalization now stands at Rs 13,411.25 crore.

Live Events

Over the past three months, the stock has delivered a strong 25% gain, reflecting sustained investor interest and positive business developments. The stock is currently trading well above its 52-week low of Rs 192.40, but remains below its 52-week high of Rs 398.45, leaving room for further upside if momentum continues.

From a valuation standpoint, Rites is trading at a price-to-earnings (PE) ratio of 34.09 and a price-to-book (PB) ratio of 4.88, suggesting moderate-to-high investor expectations relative to earnings and asset base.

On the technical front, the Relative Strength Index (RSI-14) stands at 50.9, indicating a neutral zone — neither overbought nor oversold. (RSI below 30 signals an oversold condition, while above 70 indicates overbought levels.)

Moreover, RITES is currently trading above all 8 key Simple Moving Averages (SMAs) — ranging from the 5-day to the 200-day — which is typically considered a bullish signal, highlighting strong underlying momentum.