Today RITES LTD has Reported Quarter Ended june 2018 Result which stated 18.5% jump in Profit compared to Last Year Q1 however Overall Revenue was Down 6.2% Compared to Last Year Q1, Before the Result stock was trading at near to day high Rs. 319 (Day high 321.40) which fall rapidly at the level of 292 after the result announced.
Stock is Trading at 55% Above the issue price of Rs.185, Here After the poor Result by looking at sales and margin stock may fall from this level to 258-270. however company have huge export order in line/order looking at that one should enter in this stock between current level to 258 for medium to long term bet. Stock is having very good support from Long term investor.
RITES Ltd. AGM is on 19 September 2018 where DIVIDEND Announcement can be expected
looking at the orders in hand this stock can easily achieve level of Rs.380-440 in medium to long term
Disclaimer : Please analyse stock carefully on your own before making any positions