RITES shines on inking MoU with KIIFCON
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Rites is currently trading at Rs. 343.40, up by 3.80 points or 1.12% from its previous closing of Rs. 339.60 on the BSE.
The scrip opened at Rs. 341.00 and has touched a high and low of Rs. 344.20 and Rs. 339.95 respectively. So far 14635 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 433.20 on 04-Nov-2022 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. 347.00 and Rs. 305.75 respectively. The current market cap of the company is Rs. 8249.56 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 19.93% and 7.88% respectively.
RITES has signed a memorandum of understanding (MoU) with KIIFCON, a consultancy organisation under the Kerala Infrastructure Investment Fund Board (KIIFB), to jointly explore, identify, secure, and execute consultancy projects.
As part of the MoU, both entities will work as partners (development and execution) to provide consultancy for transport and infrastructure projects in various sectors, including highways, airports, ports & waterways, urban transport (metros), sustainability, urban/industrial planning, bridges & tunnelling and railway infra etc., across the domestic and international market. They will jointly develop a ‘go-to’ market strategy to work proactively and bring in best practices by leveraging each other’s strengths to optimize operations.
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.
