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RITES holds out hope

The valuation of RITES is quite reasonable in light of opportunities the sector holds

July 09, 2020 / 01:38 PM IST
RITES holds out hope

Representative image

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Jitendra Kumar Gupta Moneycontrol Research Highlights - Result impacted by Covid-19 hitting turnkey and exports business - Margins remained good supported by consultancy segment - Strong order book and inflow - Cash in the books provides balance sheet support - Attractive valuations offering close to 6 percent dividend yield The ongoing pandemic has failed to dampen the spirits of RITES Ltd (CMP: 259, Mcap: 6481), the listed state-owned engineering consultancy entity. Though the Covid-19 outbreak and the subsequent lockdown have impacted RITES, the company remains confident about growth as its facilities limp...

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