RITES gains on signing MoU with CMPDI
Rites is currently trading at Rs. 275.00, up by 1.50 points or 0.55% from its previous closing of Rs. 273.50 on the BSE.
The scrip opened at Rs. 273.15 and has touched a high and low of Rs. 276.15 and Rs. 273.15 respectively. So far 387 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 385.50 on 30-Jul-2024 and a 52 week low of Rs. 192.30 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 278.60 and Rs. 272.15 respectively. The current market cap of the company is Rs. 13144.51 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 12.11% and 15.69% respectively.
RITES has signed a Memorandum of Understanding (MoU) with Central Mine Planning & Design Institute (CMPDI), a subsidiary of Coal India (CIL), to establish a strategic framework for collaboration. This partnership aims at identifying, exploring, and jointly pursuing prospective projects and consultancy assignments - both in India and internationally - particularly in the fields of mining, renewable energy and related infrastructure development.
Under this MoU, RITES will leverage its international experience, market intelligence, and logistics infrastructure expertise for effective evacuation to support CMPDI in securing mining projects, undertaking consultancy assignments, and designing capacity-building programmes. The two organizations will jointly identify opportunities and conduct feasibility studies and detailed assessments for mining, power, renewable energy, and related infrastructure projects in mutually agreed geographies. They will also collaborate on consultancy assignments and jointly submit proposals for mining and evacuation projects, both in India and abroad.
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.
