RITES moves up on signing MoU with NHPC
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Rites is currently trading at Rs. 481.50, up by 3.70 points or 0.77% from its previous closing of Rs. 477.80 on the BSE.
The scrip opened at Rs. 477.75 and has touched a high and low of Rs. 486.05 and Rs. 470.90 respectively. So far 41748 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 509.80 on 26-Jul-2023 and a 52 week low of Rs. 270.25 on 22-Aug-2022.
Last one week high and low of the scrip stood at Rs. 486.05 and Rs. 443.05 respectively. The current market cap of the company is Rs. 11481.62 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 NHPC, a premier hydropower generating company under the Ministry of Power, to collaborate on comprehensive Consultancy services for Rail Infrastructure facilities for NHPC’s hydropower projects. This collaboration will encompass consultancy services for new rail connectivity, logistics and allied infrastructure, including Rapid Loading Systems (RLS/SILO) and conveyor systems, at Pasighat for NHPC's 2880-MW Dibang Multipurpose Project (MPP) in Arunachal Pradesh.
RITES and NHPC, with their complementary strengths and expertise, are poised to create significant impact to the growth of India's infrastructure and energy landscape.
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.
