RITES Share Price | The AMC for railroad sidings, S&T system operation and maintenance, and 25KV OHE isolator operation are among the maintenance tasks assigned to RITES.
On June 18, the firm signed a memorandum of understanding (MoU) with Damodar Valley Corporation (DVC), a statutory entity under the Ministry of Power, which resulted in an increase in the share price of RITES.
According to a company release, the two companies will work together to provide comprehensive maintenance and operational management of 25KV Overhead Electrification (OHE) isolators, signalling and telecommunication (S&T) systems, and railway sidings throughout DVC's private railway network in West Bengal and Jharkhand.
RITES will be responsible for the AMC of railway sidings, S&T system operations and maintenance, and operation of 25KV OHE isolators.
In order to work together on extensive operations and management projects of Metro Railway Systems, including rolling stock, depot management, station management, maintenance of railway infrastructure, etc. in India and overseas, the company and Delhi Metro Rail Corporation (DMRC) signed a Memorandum of Understanding (MoU) on June 13.
A memorandum of understanding (MoU) was signed by the business on June 11 with Eastern Railway's Andal Diesel Shed located in Asansol Division, West Bengal. This Memorandum of Understanding establishes a framework for working together at the Andal Diesel Shed facility on significant maintenance and repairs of Diesel-Electric Locomotives owned by RITES and other customers.
Tata Steel also awarded the business a Letter of Award for Loco Hiring, Operation, and Maintenance for Rs 39.63 crore on June 6.
As of 10.22 am, RITES was trading 1.56 percent higher on the NSE at Rs 716 a share.
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