Shares of RITES were trading in the green and 2% higher on 25 April after the company announced signing an MoU for rail infrastructure projects. 

In its regulatory filing, the company said that they have signed a Memorandum of Understanding (MoU) with Damodar Valley Corporation to provide project management consulting services for rail infrastructure projects.

The collaboration aims to find creative infrastructure solutions to upgrade, expand, and improve rail connectivity for power plants and the neighbouring towns.

As part of this partnership, RITES and DVC will cooperate closely to create rail infrastructure facilities as well as associated civil, structural, S&T, and OHE efforts.

Earlier on 5 April, the company announced signing an MoU with the Indian Institute of Technology, Madras (IIT-Madras) to collaborate on green energy projects focused on mobility and transportation. The partnership aims to create state-of-the-art facilities for the transportation and warehousing of green hydrogen and ammonia.

At 11:03 am, the shares of RITES were trading 1.56% higher at Rs 685 on NSE.