RITES shares surge over 7% on MoU with Etihad Rail

RITES Limited (NSE: RITES) witnessed a significant rise in its stock price, gaining ₹21.25 (+7.08%) to trade at ₹321.60 as of 9:34 AM. The stock opened at ₹306.00 and reached a high of ₹323.00, while the low stood at ₹305.05. The previous close was at ₹300.35.

The surge in RITES’ stock price comes after the company signed a Memorandum of Understanding (MoU) with Etihad Rail for railway infrastructure development in the UAE. The partnership aims to leverage both companies’ expertise in enhancing rail infrastructure efficiency and supporting regional connectivity, boosting investor confidence in RITES’ international growth prospects.

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Disclaimer: This information is for informational purposes only and should not be considered as investment advice.