RITES surges on signing MoU with Etihad Rail

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

09 Oct 2024 Evaluate

Rites is currently trading at Rs. 321.50, up by 20.90 points or 6.95% from its previous closing of Rs. 300.60 on the BSE.

The scrip opened at Rs. 306.40 and has touched a high and low of Rs. 324.70 and Rs. 306.20 respectively. So far 204915 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. 216.33 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 333.95 and Rs. 292.30 respectively. The current market cap of the company is Rs. 14446.95 crore.

The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 12.83% and 14.97% respectively.

RITES has signed a Memorandum of Understanding (MoU) with Etihad Rail, the developer and operator of the UAE National Rail Network, to explore cooperation and synergise strengths in developing railways and related infrastructure services in the UAE and wider region.

The partnership aims at leveraging strengths of both the entities to explore collaborative opportunities for supply/leasing of rolling stock, consultancy and project management for railway projects, services such repairing of rolling stock and operation & maintenance of railway infrastructure to ensure more efficient and modernised rail services in the UAE and across the region. Another key initiative, under the terms of the MoU, is the capacity analysis of rail corridors in the UAE and nearby geographies, thus aiming to help improving efficiency, streamlining logistics and enhancing trade routes. Emphasizing on innovation and the use of cutting-edge technology, both parties will explore advanced IT solutions for train operations & passenger management and technical inputs on maintenance practices.

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

228.40 1.85 (0.82%)

07-May-2026 13:34 View Price Chart

Peers

Company Name	CMP
NBCC (India)	95.55
Rites	228.40
Central Mine Planning & Design Inst	212.85
Monarch Surveyors	238.15
Mold-Tek Tech	131.65
View more..

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