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RITES shares on an uptrend, up 12% in just 5 sessions - Can the stock rise further? Experts decode

Livemint Markets

Published 15 Oct 2026, 06:19 am IST

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.

Year-to-date, the stock has lost 13%, in sync with the losses in the equity benchmark Sensex. However, on a monthly scale, it is up about 1% so far in October after a 4% drop in September.

The PSU stock dropped to a 52-week low of ₹175.10 on 30 March this year after scaling a 52-week high of ₹259.30 on 21 November last year.

According to Aditya Thukral, founder and analyst at AT Research and Risk Managers, RITES has been in a downtrend, with lower highs and lower lows forming. However, the stock has been declining within a corrective structure, and the overall structure appears incomplete on the downside.

"The stock might visit the downside again but may take time in the process. There is a possibility that the stock could first experience a rise towards the resistance zone of ₹250 to ₹260 and then fall back again. The stock is trading with negative crossovers among its EMAs, which is a bearish sign," said Thukral.

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"The larger direction still remains on the downside, and any rise towards the resistance zone of ₹250 to ₹260 is an exit opportunity for longs rather than a buying opportunity," Thukral added.

Vipin Kumar, AVP-Research at Globe Capital Market, underscored that the stock has been going through a volatile consolidation phase in the ₹190- ₹235 range since the start of April 2026.

"Going ahead, a decisive move on either side of this range is essential for the next directional move in that direction. A decisive close above ₹235 will be a positive development that could lead the stock for some meaningful medium-term gains," said Kumar.

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Originally reported by Livemint Markets.Source: livemint.com

RITES shares on an uptrend, up 12% in just 5 sessions - Can the stock rise further? Experts decode

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