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The partnership between RITES and DVC aims to innovate infrastructure solutions for upgrading, renovating, and developing rail connectivity for power plants and their surrounding areas.
RITES shares saw a 2% increase in trading on February 26 as of 3:20 pm.
The transport consultancy and engineering company stated in an exchange filing that "the estimated project cost, including the PMC fees, is estimated to be Rs 414 crore, excluding GST."
Railway stocks rose 13% today, continuing their record-breaking run.
Both Ircon and RITES attained Navratna status in October, ranking 15th and 16th among CPSEs.
The successful bid for locomotives is valued at $37,680,080.
They will investigate economic interests regarding the creation and implementation of projects in the Republics of Colombia and Guyana.
As part of the MoU, RITES and CFM Angola will collaborate in areas such as rolling stock supply.
The statement claims that the contract was signed at the NHPC corporate office by General Manager (Civil) Dibang and Executive Director, RITES, in the presence of Biswajit Basu, Director (Projects).
The MoU aims to identify mutual areas of interest in railway projects and foster collaboration between the two entities.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.