RITES shares have been on a solid uptrend over the last few sessions, rising as much as 12% in just five sessions. In intraday trading on Thursday, 15 October, RITES' share price jumped over 9% to an intraday high of ₹219, with a spurt in volume of more than 3 times. At this price, the stock has gained 11.6% in five consecutive sessions, including today.
The recent rise in the stock price appears to be more technical than fundamental, as there is no latest announcement by the company that can trigger a sharp uptrend in the stock price.
It has been witnessing a spike in volume lately, due to which the BSE sought clarification from the company on 1 October. Responding to the query, the company said the movement in the volume of its shares is completely market-driven, and it has no information or any announcement (including pending announcements) that has a bearing on the price or volume behaviour in the scrip.
Meanwhile, the company said its board will meet on Wednesday, 4 November, to consider and approve its unaudited standalone and consolidated financial results for the quarter and half year ended on 30 September 2026. The board is also expected to consider the declaration of the second interim dividend for the financial year 2026-27 (FY27).
RITES is a Navratna public sector enterprise. It is a leading multidisciplinary engineering and transport consultancy organisation.