Shares of RITES (Rail India Technical and Economic Services) Ltd, the first state-owned firm to be listed on the stock exchanges in fiscal year 2018-19 , made a strong stock market debut on Monday. RITES shares opened at Rs 190, up 2.7% from its issue price of Rs 185, after the IPO was subscribed nearly 67 times. At 1.40pm, the stock was trading at Rs 215.20, up 16.32% compared to its issue price, while the Sensex fell 0.64% to 35,196.56 points. In intraday trade, RITES stock rose as much as 21.29% to Rs 224.40.
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