New Delhi, Oct. 15 -- 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 Rs.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 ...