RITES rises on entering into MoU with MIDC to develop Multi-Modal Logistics projects in Meghalaya
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Rites is currently trading at Rs. 481.75, up by 5.20 points or 1.09% from its previous closing of Rs. 476.55 on the BSE.
The scrip opened at Rs. 479.00 and has touched a high and low of Rs. 484.35 and Rs. 478.15 respectively. So far 2049 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 583.45 on 11-Sep-2023 and a 52 week low of Rs. 305.75 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 488.90 and Rs. 466.00 respectively. The current market cap of the company is Rs. 11451.59 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 16.70% and 11.10% respectively.
RITES has entered into a memorandum of understanding (MoU) with Meghalaya Industrial Development Corporation (MIDC) to develop Multi-Modal Logistics projects in Meghalaya. As part of the MoU, RITES will be offering its expertise as a Project Management Consultant and shall undertake a comprehensive range of services for developing Multi-Modal Logistics projects in Meghalaya. The collaboration is set to improve logistics infrastructure within Meghalaya and enhance trade and transport opportunities, fostering economic development and easing access to the region.
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.
