RITES soars on inking MoU with CWPRS
Rites is currently trading at Rs. 224.45, up by 11.30 points or 5.30% from its previous closing of Rs. 213.15 on the BSE.
The scrip opened at Rs. 213.20 and has touched a high and low of Rs. 228.00 and Rs. 212.95 respectively. So far 48078 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. 200.35 on 17-Feb-2025.
Last one week high and low of the scrip stood at Rs. 228.00 and Rs. 200.35 respectively. The current market cap of the company is Rs. 10472.36 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 the Central Water and Power Research Station (CWPRS), an R&D organization as a subordinate office of the Department of Water Resources, River Development and Ganga Rejuvenation, Ministry of Jal Shakti. This collaboration entails works related to engineering consultancy services, and research & development projects in water resources, marine, and inland waterways infrastructure.
This strategic partnership will combine RITES’ expertise in transport infrastructure consultancy and project management with CWPRS’ advanced research capabilities in water resources to drive innovative solutions in marine, coastal, inland waterways, and hydropower infrastructure. It aims at enhancing project efficiency and sustainability through joint engineering consultancy, research, and development initiatives.
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.
