RITES gains on signing MoU with iHUB DivyaSampark, IIT-Roorkee
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RITES is currently trading at Rs. 509.70, up by 5.65 points or 1.12% from its previous closing of Rs. 504.05 on the BSE.
The scrip opened at Rs. 505.00 and has touched a high and low of Rs. 516.20 and Rs. 504.60 respectively. So far 12069 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 540.70 on 05-Sep-2023 and a 52 week low of Rs. 281.85 on 19-Sep-2022.
Last one week high and low of the scrip stood at Rs. 540.70 and Rs. 493.00 respectively. The current market cap of the company is Rs. 12369.54 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 18.69% and 9.11% respectively.
RITES has signed a Memorandum of Understanding (MoU) with iHUB DivyaSampark, IIT-Roorkee, to jointly explore business opportunities related to innovative technologies. Under this arrangement, RITES and iHUB DivyaSampark IIT-Roorkee will collaborate on projects, events, and network facilitation to explore opportunities for Cyber Physical Systems-related innovation and emphasis on developing technology/Industry 4.0 and AI-based solutions to meet the industry's requirements. Both entities will also collaborate and explore AI applications in the fields such as rolling stock maintenance, inspection, maintenance of bridges, office management, and airports etc.
RITES is a multi-disciplinary consultancy organization in the fields of transport, infrastructure, and related technologies. It provides a comprehensive array of services under a single roof and believes n transfer of technology to client organizations.
