RITES, IRFC sign MoU to explore consultancy works

RITES Ltd, India's leading transport infrastructure consultancy and engineering firm, today signed a memorandum of understanding (MoU) with Indian Railway Finance Corporation (IRFC) to explore avenues of mutual collaboration in the railway eco-system and the transport infrastructure sector.

As part of the MoU, RITES will offer consultancy & advisory services and assist in ascertaining the financial & technical viability of projects, while IRFC will provide financial services to projects/ institutions that have got backward and or forward linkages with the Railways.

Mr. Manobendra Ghoshal, Chief Strategy Officer, RITES Ltd., said, "Together, RITES' consultancy prowess and IRFC's financial expertise will stimulate mega and critical projects and drive sustainable growth in the transport infrastructure sector. The strategic partnership, through knowledge sharing, will also bring in synergy and innovation in the consultancy domain."

Shares of Indian Railway Finance Corporation Limited was last trading in BSE at Rs. 34.82 as compared to the previous close of Rs. 35.23. The total number of shares traded during the day was 3109179 in over 6271 trades.

The stock hit an intraday high of Rs. 35.30 and intraday low of 34.52. The net turnover during the day was Rs. 108557223.00.

Shares of RITES Limited was last trading in BSE at Rs. 477.80 as compared to the previous close of Rs. 497.30. The total number of shares traded during the day was 83159 in over 3014 trades.

The stock hit an intraday high of Rs. 495.70 and intraday low of 474.00. The net turnover during the day was Rs. 40074609.00.

Source : Equity Bulls

Keywords

IndianRailwayFinanceCorporation INE053F01010 IRFC NBFC RITES INE320J01015 MoU