by Benzinga -
Shares of RITES (NS:RITS) shot up on Wednesday morning going up over 6% to hit an intraday high of ₹319.95.
What Happened: RITES has entered into a Memorandum of Understanding (MoU) with Etihad Rail, the UAE’s national rail network operator. The partnership aims to collaborate on railway and infrastructure services in the UAE and the wider region.
The collaboration aims to explore opportunities for supply/leasing of rolling stock, consultancy and project management for railway projects, and services such as repairing of rolling stock and operation & maintenance of railway infrastructure.
The partnership also includes a capacity analysis of rail corridors in the UAE and... Continue reading the full story on Benzinga