RITES soars on signing MoU with NEEPCO

Rites Ltd. | Engineering Consultancy | Capital Goods & Industrial Consumables | BSE: 541556 | NSE: RITES

26 Dec 2023 Evaluate

Rites is currently trading at Rs. 507.05, up by 20.10 points or 4.13% from its previous closing of Rs. 486.95 on the BSE.

The scrip opened at Rs. 493.80 and has touched a high and low of Rs. 508.30 and Rs. 489.40 respectively. So far 5750 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. 524.75 and Rs. 470.50 respectively. The current market cap of the company is Rs. 11701.50 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 signed a memorandum of understanding (MoU) with North Eastern Electric Power Corporation (NEEPCO) to collaborate on consultancy works for strengthening logistical infrastructure at various hydropower stations in the region, including the Siang Basin. To enhance the power infrastructure in the region, the Arunachal Pradesh Government has entrusted NEEPCO for executing five hydropower projects in the Siang Basin.

As per the MoU, RITES will also support NEEPCO as a Project Management Consultant for works related to rail infrastructure facilities, including signalling & telecommunications, overhead equipment, and conveyor systems. Also, the MoU entails works related to roads, buildings and other civil ancillary structures, including utilities. The collaboration underscores RITES’ commitment to advancing sustainable infrastructure by leveraging its core expertise of consultancy. The company is looking forward to working in synergy with NEEPCO and support their endeavour of increasing access to clean energy.

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.

Rites Share Price

227.10 -1.70 (-0.74%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
NBCC (India)	100.61
Rites	227.10
Central Mine Planning & Design Inst	219.45
Monarch Surveyors	244.75
Mold-Tek Tech	130.85
View more..

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