Shares of RITES, the state-run concept to commissioning services provider, surged as much as 12.45%, its biggest single-day gain since May 16, 2025, to hit an intraday high of ₹230.35 on the BSE after the Navratna PSU said that it received a work order for providing consultancy services to Babasaheb Bhimrao Ambedkar University (BBAU).
On the National Stock Exchange, RITES shares advanced as much as 13.44% to hit an intraday high of ₹232.
RITES in a stock exchange filing said that it received work of project management consultancy services for planning, design and development of infrastructural facilities and other related works in campus of Babasaheb Bhimrao Ambedkar University (BBAU) on cost plus PMC fee basis.
RITES has 30 months to execute the order, and the total cost of the order is pegged at ₹175.41 crore excluding goods and services tax (GST).
Meanwhile, RITES shares were witnessing spike in trading activity as volume on the stock jumped by 17 times to 87.28 lakh shares compared with an average volume of 5.13 lakh shares on the National Stock Exchange (NSE).
On the BSE, as many as 13.5 lakh shares changed hands compared with an average of 42,000 shares traded daily in the past two weeks.
RITES Q4 earnings
RITES recorded a decline in net profits after tax in the March quarter due to rising expenses.
RITES posted a 1.4% fall in its consolidated net profits to ₹139 crore in the fourth quarter of the financial year ended 2025-26, compared year-on-year with ₹141 crore in the same period a year ago.
The company’s revenue from core operations advanced 27% to ₹768 crore in the March quarter of the year ended 2025-26, compared with ₹602 crore in the same period a year earlier.
The data further showed that the company increased its employee benefits expenses to ₹137 crore, from ₹126 crore in the same period a year ago. The total expenses for the company rose by 42% YoY to ₹617 crore, compared to ₹434 crore in the same period a year ago.
As of 11:32 am, RITES shares traded 13% higher at ₹231, outperforming the NIFTY 500 index which was up 0.51%