RITES Ltd., the leading Transport Infrastructure Consultancy and Engineering company, signed a memorandum of understanding (MoU) with KIIFCON, a consultancy organisation under the Kerala Infrastructure Investment Fund Board (KIIFB), to jointly explore, identify, secure, and execute consultancy projects.
As part of the MoU, both entities will work as partners (development and execution) to provide consultancy for transport and infrastructure projects in various sectors, including highways, airports, ports & waterways, urban transport (metros), sustainability, urban/industrial planning, bridges & tunnelling, and railway infra etc., across the domestic and international market. They will jointly develop a 'go-to' market strategy to work proactively and bring in best practices by leveraging each other's strengths to optimise operations.
Mr. Manobendra Ghoshal, Chief Strategy Officer (CSO), RITES, said, "The partnership will facilitate exploring consultancy opportunities arising in multiple sectors. Apart from a diversified sector portfolio (for consultancy), RITES will also bring in technical expertise, and marketing capabilities to strengthen the association."
KIIFB facilitates sustainable infrastructure development in Kerala.
Shares of RITES Limited was last trading in BSE at Rs. 339.60 as compared to the previous close of Rs. 340.30. The total number of shares traded during the day was 25727 in over 978 trades.
The stock hit an intraday high of Rs. 347.00 and intraday low of 336.20. The net turnover during the day was Rs. 8808586.00.