RITES zooms on signing MoU with AD Ports Group
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Rites is currently trading at Rs. 742.95, up by 38.10 points or 5.41% from its previous closing of Rs. 704.85 on the BSE.
The scrip opened at Rs. 698.80 and has touched a high and low of Rs. 752.00 and Rs. 683.20 respectively. So far 319000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 821.30 on 08-Feb-2024 and a 52 week low of Rs. 311.60 on 22-Feb-2023.
Last one week high and low of the scrip stood at Rs. 821.30 and Rs. 673.00 respectively. The current market cap of the company is Rs. 17865.24 crore.
The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 15.49% and 12.31% respectively.
RITES has entered into strategic Memorandum of Understanding (MoU) with AD Ports Group to explore joint ventures and collaborations in key areas of trade and logistics. The collaboration brings together RITES' rich expertise in transport infrastructure development and project management with AD Ports Group's extensive portfolio of world-class ports, logistics solutions, and vertically-integrated business Clusters.
The MoU aims to bring about mutual engagement with the objective of exploring potential opportunities of joint cooperation for working together in the upcoming IMEEC and in the areas of infrastructure development such as ports, multimodal logistic parks, free trade zones, rail connectivity projects and logistics infrastructure services.
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.
