RITES & MECON sign MoU to explore business avenues

RITES Ltd., a premier transport infrastructure consultancy, has signed a Memorandum of Understanding (MoU) with MECON Ltd, an undertaking under the Ministry of Steel, to collaborate in identifying business opportunities and jointly pursuing projects. The partnership aims to leverage the complementary strengths of both organisations - RITES' extensive expertise in transport infrastructure and engineering consultancy, and MECON’s capabilities in the metal, mining, energy, and allied sectors.

Under the MoU, the organisations will jointly explore consultancy assignments and infrastructure opportunities across a wide range of sectors, including railways, metro rail, highways, expressways, airports, ports, ropeways, bridges, tunnels, urban transport, energy, water resources, hydropower, wastewater management, and industrial infrastructure. The collaboration will focus on opportunities in India and international markets, combining the technical expertise and sectoral experience of both organisations to deliver integrated infrastructure solutions.

Shares of RITES Limited was last trading in BSE at Rs. 219.85 as compared to the previous close of Rs. 218.25. The total number of shares traded during the day was 68006 in over 1266 trades.

The stock hit an intraday high of Rs. 220.55 and intraday low of 216.10. The net turnover during the day was Rs. 14822557.00.

Source : Equity Bulls

Keywords

RITES INE320J01015 MoU MECON