RITES, Tata Steel to jointly explore integrated infra services

RITES Limited, a leading transport infrastructure consultancy and engineering company, today entered into a memorandum of understanding (MoU) with Tata Steel Limited to synergise their expertise.

RITES and Tata Steel would collaborate to offer services in the areas of railway rolling stock exports and enhance infrastructural capabilities for buildings, airports, urban engineering, and information technology. They would also explore capacity enhancement for urban mass rapid transport, including metro railway systems, for domestic and overseas markets.

As part of the MoU, RITES will provide expertise in design, marketing, operation & maintenance, and support required for tapping domestic as well as overseas markets, while Tata Steel's New Materials Business (NMB) division will undertake the development and manufacturing of customised products as per the clients' requirements in coordination with RITES.

Shares of RITES Limited was last trading in BSE at Rs. 277.75 as compared to the previous close of Rs. 266.65. The total number of shares traded during the day was 165611 in over 4915 trades.

The stock hit an intraday high of Rs. 286.50 and intraday low of 268.00. The net turnover during the day was Rs. 46258830.00.

Shares of Tata Steel Limited was last trading in BSE at Rs. 1320.55 as compared to the previous close of Rs. 1358.00. The total number of shares traded during the day was 538554 in over 23273 trades.

The stock hit an intraday high of Rs. 1359.55 and intraday low of 1296.55. The net turnover during the day was Rs. 708178594.00.

Source : Equity Bulls

Keywords

RITES INE320J01015 TataSteel INE081A01012 MoU InfraServices