Concor, RITES: 47.5-80% Dividend, These 2 Navratna Railway Stocks Hit New High Ahead Of Record Date

At a time when the majority of Railway stocks such as IRFC, IRCTC, RVNL, and BEML are trending on a bearish note, there are two railway-related companies which have witnessed significant upside as much as hitting new 52-week highs. These are the Container Corporation of India (ConCor) and RITES. The stock is in focus this week ahead of its dividend payout in the ratio of 47.5% to 80%.

Connor:

On BSE, Concor share price ended at Rs 929.90 apiece, up by 1.05% after hitting a new 52-week high of Rs 951.90 apiece on Monday.

The stock's market cap is at Rs 56,658.28 crore.

Concor has declared a third interim dividend of 80% amounting to Rs 4 per share having a face value of Rs 5 each. The payout in value terms is Rs 243.72 crore. For this, the company has set February 7 as the record date, and February 13, as the dispatch date.

Currently, Concor has a dividend yield of 1.18%.

In Q3FY24, Concor reported a revenue from operations of Rs 2,210.57 crore, up from Rs 2,004.46 crore in Q3FY23. While PAT came in at Rs 330.58 crore, as against Rs 293.44 crore in Q3FY23.

The Navratna company, Concor's core business is characterised by three distinct activities, that of a carrier, a terminal operator, and a warehouse operator. CONCOR provides transport linkages between ports and the hinterland. Regular container trains are run to and from ports to CONCOR's terminals in the hinterland. Some of the terminals are also served by road.

RITES Ltd:

Rites share price closed at Rs 747 apiece, up by 6.93% on BSE with a market cap of Rs 17,950.55 crore on Monday's trade. On the same day, the stock touched a new record high of Rs 787.90 apiece.

The company has declared the third interim dividend of Rs 4.75 per share amounting to Rs 114 crore. The record date for payment of dividends is February 9, 2024. Currently, it has a dividend yield of 2.74%.

RITES operating revenue (consolidated), excluding other income, stands at ₹683 crore in Q3FY24 as against ₹677 crore in Q3FY23, up by 0.8%. Total revenue is ₹700 crore as against ₹703 crore in Q3FY23. EBITDA and PAT stand at ₹171 crore and ₹129 crore with margins of 25.0% and 18.4%, respectively.

Also, the company has secured more than 100 orders (including the extension of works) worth more than ₹612 crores in Q3FY24, thereby achieving the target of being one order a day company. The quarter ended with a healthy order book of ₹5496 crore.

On the growth prospects, Rahul Mithal, Chairman and Managing Director, RITES said, "Having achieved the milestone of being a one-order-a-day company, we will continue to aggressively grow across all sectors and effectively leverage the Capex push on infrastructure development, in our journey of being the 'Go-To Infrastructure Consultancy Company'.

RITES Limited, a Navratna Public Sector Enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company has experience spanning 49 years and has undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and the Middle East region