RITES signs MoU with CFM Angola

RITES Limited, a prime transport infrastructure consultancy and engineering firm, today signed a Memorandum of Understanding (MoU) with Caminho De Ferro De Moçâmedes (CFM) Angola for cooperation in the development of Railways and related infrastructure, including the supply of rolling stock.

As part of the MoU, RITES and CFM Angola will collaborate in areas such as supply of Rolling Stock, Railway Infrastructure Projects, repairing of rolling stock, operations and maintenance of railway infrastructure, Information Technology services, Technical Maintenance and Master Planning and more.

Mr. Manobendra Ghoshal, Chief Strategy Officer, RITES Ltd., said, "We are delighted to sign this MoU with CFM Angola, which highlights our concerted efforts under the strategic initiative 'RITES Videsh'. This partnership will enable us to share our expertise and resources, and we look forward to a long and successful relationship."

Shares of RITES Limited was last trading in BSE at Rs. 514.20 as compared to the previous close of Rs. 567.95. The total number of shares traded during the day was 367032 in over 12665 trades.

The stock hit an intraday high of Rs. 572.40 and intraday low of 510.05. The net turnover during the day was Rs. 195434255.00.

Source : Equity Bulls

Keywords

RITES INE320J01015 MoU CFM Angola