LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

RITES shares up 20% in just 2 days; can still rally more; to buy or not? Find out

RITES share price extended gains for the second straight session post its debut on stock market on Monday. The stock had surged 15 per cent over its issue price of Rs 185 in its debut trade yesterday, and rallied another 4 per cent today, taking the overall gains to 19.94 per cent so far on the BSE. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
RITES shares up 20% in just 2 days; can still rally more; to buy or not? Find out
RITES share price hit its intraday high of Rs 221.90, up 4.32 per cent on the BSE today. Image source: PTI
Written By: ZeeBiz WebTeam
Updated: Tue, Jul 03, 2018
11:56 am
ZeeBiz WebDesk
RELATED NEWS
RITES will grow moderately in FY21; It has an order book of Rs 6,132 crore: Rajeev Mehrotra, CMD RITES will grow moderately in FY21; It has an order book of Rs 6,132 crore: Rajeev Mehrotra, CMD
RITES had an order book of Rs 6,223 crore at the start of the year: Rajeev Mehrotra, CMD RITES had an order book of Rs 6,223 crore at the start of the year: Rajeev Mehrotra, CMD
Railways PSU RITES offer-for-sale (OFS) opens on bourses; share price slumps 5 pct Railways PSU RITES offer-for-sale (OFS) opens on bourses; share price slumps 5 pct
Budget 2020 My Pick: RITES share can give you windfall returns, likely to benefit from budget Budget 2020 My Pick: RITES share can give you windfall returns, likely to benefit from budget
Stocks in Focus on November 22: CSB bank, RITES to BHEL; here are the 5 Newsmakers of the Day Stocks in Focus on November 22: CSB bank, RITES to BHEL; here are the 5 Newsmakers of the Day

RITES share price extended gains for the second straight session post its debut on stock market on Monday. The stock had surged 15 per cent over its issue price of Rs 185 in its debut trade yesterday, and rallied another 4 per cent today, taking the overall gains to 19.94 per cent so far on the BSE. 

Shares of railways consultancy firm hit its intraday high of Rs 221.90, up 4.32 per cent on the BSE today.

Avinnash Gorakssakar, HoR, Joindre Capital still sees an upside of over 15 per cent from the current levels in the next three to six months. 

"I see target of Rs 220-225 in the near-term. The stock has a potential to undergo a rerating after the company announces its quarterly numbers and management defines its commentary on future growth. The company is debt free whose return ratios are positive too. Thus, investors can still see 15 per cent upside if they buy at current levels," he said. 

The Rs 466-crore IPO of RITES was open during June 20-22 and was in a price band of Rs 180-185.

RITES garnered strong investor demand, with the issue getting subscribed more than 67 times. Qualified Institutional Buyers (QIBs) portion was subscribed 71.97 times, non-institutional investors 193.04 times and retail 15.17 times.

WATCH ZEE BUSINESS VIDEO HERE

RITES is the first state-owned firm to hit the IPO market in the current financial year.

Elara Capital (India), IDBI Capital Markets & Securities, IDFC Bank and SBI Capital Markets managed the issue. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
RITES
RELATED NEWS
RITES will grow moderately in FY21; It has an order book of Rs 6,132 crore: Rajeev Mehrotra, CMD RITES will grow moderately in FY21; It has an order book of Rs 6,132 crore: Rajeev Mehrotra, CMD
RITES had an order book of Rs 6,223 crore at the start of the year: Rajeev Mehrotra, CMD RITES had an order book of Rs 6,223 crore at the start of the year: Rajeev Mehrotra, CMD
Railways PSU RITES offer-for-sale (OFS) opens on bourses; share price slumps 5 pct Railways PSU RITES offer-for-sale (OFS) opens on bourses; share price slumps 5 pct
Budget 2020 My Pick: RITES share can give you windfall returns, likely to benefit from budget Budget 2020 My Pick: RITES share can give you windfall returns, likely to benefit from budget
Stocks in Focus on November 22: CSB bank, RITES to BHEL; here are the 5 Newsmakers of the Day Stocks in Focus on November 22: CSB bank, RITES to BHEL; here are the 5 Newsmakers of the Day

LATEST NEWS

Indian Pro Music League Grand Opening: Salman Khan's 'mega selfie' on world's biggest music league with Riteish Deshmukh, Genelia D'Souza, Shraddha Kapoor, others now viral on social media

Vodafone Idea: Vi brings Wi-Fi calling service in Delhi | Check full list of phones

PUBG Mobile 1.3 beta update: APK download link for global version - Check all details here!

RailTel IPO listing date: Share price jumps 16% above issue price on market debut

NSE Glitch: In chat with Anil Singhvi, Brajesh Mishra reveals details of 'strongly worded' letter trading association shot off to SEBI

After lifting green card, visa ban, Biden to ensure high-skill immigration

Indian Army Recruitment Rally 2021: Recruitment for various posts to be held at Alwar: See where to apply

World's BIGGEST Music Reality Show! Zee brings Indian Pro Music League today with Salman Khan as brand ambassador

Nick Jonas releases title track ''Spaceman'' from upcoming solo album

SAIL share price: Anand Rathi initiates coverage with BUY recommendation and a target price of Rs 94 per share

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved