IRFC and RITES sign MoU to strengthen cooperation in financing & development of Railway Infrastructure Projects

Indian Railway Finance Corporation Ltd. (IRFC), a Schedule 'A'/Miniratna Public Sector Enterprise under the Ministry of Railways (MoR), has signed a Memorandum of Understanding (MoU) with RITES Ltd.

The MoU aims for identifying mutual areas of collaboration for expanding IRFC's role in providing financial assistance to projects/ institutions that have got backward and or forward linkages with Railways and by RITES providing assistance to IRFC in ascertaining the financial & technical viability of projects, providing advisory & consultancy services.

Smt. Shelly Verma, CMD (addl. Charge) & Director (Finance) IRFC, expressed her views on the occasion, stating, "IRFC, along with RITES, will not only strengthen the financial ecosystem for Railway Infrastructure projects but also contribute to the overall growth and modernization of the Indian Railways. Partnering with a premium and established consultancy institution like RITES will enhance IRFC's appraisal and marketing capabilities in exploring funding opportunities in various sectors supporting Railway infrastructure."

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 RITES INE320J01015 MOU