RITES shares surge nearly 3% as firm signs deal with Hindustan Copper; check details

The partnership will focus on exploration, extraction, refining, and production activities in India and abroad. The collaboration includes participation in mineral block auctions and the development of mining infrastructure.

Following this, in the early session, RITES shares were trading at ₹306.55 apiece, rising 2.13% on the National Stock Exchange.

As part of the Memorandum of Understanding (MoU), RITES will provide consultancy and logistics solutions, including project planning, transport infrastructure development, multimodal transport planning, and rolling stock support, to strengthen the mining operations of Hindustan Copper.

"This strategic partnership aims to build an integrated, self-reliant mineral value chain that supports India's critical mineral security, fosters sustainable growth, and strengthens the nation's economic resilience," the company said in a statement.

Hindustan Copper Ltd is a vertically integrated government-owned copper producer under the mines ministry. It is engaged in the full spectrum of copper production, from mining and beneficiation to smelting, refining, and manufacturing copper wire rods.

HCL's facilities are located in various states, including Madhya Pradesh, Rajasthan, Jharkhand, Gujarat and Maharashtra.

RITES saw a 1.4% year-on-year (YoY) decline in net profit at ₹137 crore during the fourth quarter of the fiscal year 2024. The company’s total consolidated revenue during the quarter also saw a fall of 5.4% YoY to ₹668 crore.

The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter declined by 6.8% YoY to ₹178 crore. The EBITDA margin came in marginally lower at 27.7% compared to 27.8% in the same period last year. The net profit margin for the fourth quarter expanded to 20.5% compared to 19.7% in the corresponding period last year.

For the financial year ending on March 31, 2024, RITES’ net profit sank by 13.3% YoY to ₹495 crore. The total consolidated revenue in FY24 came in 7% lower at ₹2,539 crore.

EBITDA for the year fell 13% YoY to ₹650 crore, while the EBITDA margin stood at 26.5% compared to 28.4% last year. The net profit margin in FY24 was lower at 19.5% compared to last year’s 20.9%.

As of March 31, 2024, RITES has an order book worth ₹5,690 crore.

Over the last five trading days, RITES shares soared almost 8%, while for a month’s period, the stock gained over 40%.

Year-to-date, RITES shares have gained 2.54%.

The company’s market capitalisation stands at ₹14,555.09 crore.

Shares of the firm had touched its one-year high of ₹398.45 apiece on July 8, 2024, while its 52-week low of ₹192.40 was hit on March 3, 2025.