Stock Report

BEML Signs MoU with RITES



Posted On : 2021-12-16 17:10:39( TIMEZONE : IST )

BEML Signs MoU with RITES

BEML LIMITED, a leading Rail & Metro Coaches manufacturer signed a Memorandum of Understanding (MoU) with RITES Limited, a leading Transport Infrastructure Consultancy and Engineering Company, to explore and jointly bid for opportunities in the fields of Metro systems and export of rolling stock.

As part of the MoU, RITES will provide expertise in design, engineering, marketing and any other support that may be required for tapping domestic and overseas opportunities while BEML will be responsible for manufacturing of customized metro coaches and rolling stock.

The MoU will allow both companies to leverage each other's expertise and technologies to opitimise operations and expand on a global level. It would enable BEML and RITES to jointly bid and provide the entire spectrum of services from design, manufacture to operations & maintenance for the existing and upcoming Metro systems as well as export of rolling stock and related services.

The collaboration will not only create a platform to enable exploration of business Opportunities around the globe, but also facilitate knowledge sharing to strengthen respective organisations' operations.

Shares of BEML Limited was last trading in BSE at Rs. 1850.50 as compared to the previous close of Rs. 1890.15. The total number of shares traded during the day was 8924 in over 1269 trades.

The stock hit an intraday high of Rs. 1923.60 and intraday low of 1841.70. The net turnover during the day was Rs. 16762627.00.

Shares of RITES Limited was last trading in BSE at Rs. 267.10 as compared to the previous close of Rs. 266.30. The total number of shares traded during the day was 6340 in over 382 trades.

The stock hit an intraday high of Rs. 269.60 and intraday low of 264.80. The net turnover during the day was Rs. 1687190.00.

Source : Equity Bulls

Keywords

BEML INE258A01016 RITES INE320J01015 MoU MetroSystems