RITES Signs MOU with Transnamib Holdings

RITES Signs MOU with Transnamib Holdings

RITES Signs MOU with Transnamib Holdings

RITES, a leading Indian transport infrastructure company, has recently inked a significant Memorandum of Understanding (MOU) with Transnamib Holdings Limited, a prominent railway company based in Namibia. This MOU, officially dated June 19, 2023, was duly received from Transnamib Holdings Limited on July 2, 2023. The primary objective of this collaboration is to foster cooperation in the development of railways and associated infrastructure, with a specific focus on the supply of rolling stock.

In the financial market, RITES Limited’s shares were recently trading on the Bombay Stock Exchange (BSE) at Rs. 372.05, exhibiting a slight decline from the previous closing price of Rs. 377.85. Throughout the trading day, a total of 21,989 shares were exchanged in over 1,208 transactions.

About RITES:

RITES Ltd, previously named Rail India Technical and Economic Service Limited, is a government-owned company operating as a Miniratna (Category-I) Schedule ‘A’ Central Public Sector Undertaking. It falls under the purview of the Ministry of Railways. Established on April 26, 1974, RITES Ltd is a versatile engineering and consultancy organization. It offers a wide array of services encompassing the entire spectrum of transport infrastructure and associated technologies, starting from conceptualization to project completion.

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