RITES rises on signing MoU with C-DAC
Rites is currently trading at Rs. 220.55, up by 2.30 points or 1.05% from its previous closing of Rs. 218.25 on the BSE.
The scrip opened at Rs. 218.25 and has touched a high and low of Rs. 222.95 and Rs. 218.20 respectively. So far 38838 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 413.08 on 27-Feb-2024 and a 52 week low of Rs. 207.10 on 12-Feb-2025.
Last one week high and low of the scrip stood at Rs. 235.15 and Rs. 207.10 respectively. The current market cap of the company is Rs. 10599.72 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 12.17% and 15.63% respectively.
RITES has signed a Memorandum of Understanding (MoU) with a Centre for Development of Advanced Computing (C-DAC), a scientific society of the Ministry of Electronics and Information Technology (MeitY), to collaborate on IT solutions for consultancy assignments.
Under this MoU, both parties will explore opportunities for collaboration in areas such as eGovernance, cybersecurity & cyber forensic, cloud computing, big data analytics, free and open source software and solutions, IoT, Artificial Intelligence and Machine Learning, education and training, research and development in cutting-edge technologies relevant to various consultancy assignments.
As an initial step, RITES and C-DAC will collaborate on developing the ‘MAITRI’ platform, enabling digitalisation of trade information for the seamless movement of cargo between Indian and Middle East ports as part of the first phase of international Virtual Trade Corridor.
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.
