RITES rises on signing MoU with CRIS to explore information technology opportunities in railway sector
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RITES is currently trading at Rs. 232.70, up by 0.75 points or 0.32% from its previous closing of Rs. 231.95 on the BSE.
The scrip opened at Rs. 231.95 and has touched a high and low of Rs. 236.00 and Rs. 231.50 respectively. So far 4603 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 318.00 on 25-Oct-2021 and a 52 week low of Rs. 226.05 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 241.60 and Rs. 229.50 respectively. The current market cap of the company is Rs. 5644.69 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 18.34% and 9.46% respectively.
RITES has signed a memorandum of understanding (MoU) with Centre for Railway Information Systems (CRIS), to explore information technology-based opportunities in the railway sector and new-age areas. The MoU will facilitate both entities to leverage each other’s expertise and collaborate to drive digitalization in railway technologies. Together, CRIS and RITES will be working on national and international projects. With this partnership, the parties will devise smart, intelligent IT solutions for railway operations, apart from modernizing existing technology and telecommunication in the sector.
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.
