Rites (Rail India Technical and Economic Service) stock has corrected to Rs 245 and is trading at 8 times its FY23 earnings estimates. It is offering a dividend yield of over 6 percent.
The company is sitting on huge cash accounting close to 50 percent of its current market capitalization. The business earns close to 30 percent return on capital and has good revenue visibility yet the stock is trading at low valuations.
In the special segment ‘Moneycontrol Pro Ideas For Profit’, moneycontrol.com’s Jitendra Gupta gets more details on the company’s performance.
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