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The total project cost is estimated at Rs 28 crore and the project is scheduled to be completed within 24 months.
The company also clarified that the contract does not involve any related party transactions and confirmed that neither the promoter, promoter group, nor any group companies have any interest in the awarding entity.
The official announcement was made on Thursday, 24 April 2025, after market hours
RITES, a Miniratna (Category-I) Schedule 'A' public sector enterprise, is a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. As of 31st December 2024, the Government of India held a 72.20% stake in the company.
The company’s consolidated net profit declined 16.7% to Rs 100.09 crore in Q3 FY25 as compared with Rs 120.14 crore in Q3 FY24. Net sales declined 15.7% to Rs 575.76 crore during the quarter.
The counter slipped 3.41% to Rs 231 on the BSE.
The MoU aims to foster mutual collaboration by exploring joint opportunities in infrastructure development, including ports, multimodal logistics parks, free trade zones, rail connectivity projects, and logistics infrastructure services.
DP World is a multinational logistics company based in Dubai, United Arab Emirates. It specializes in cargo logistics, port terminal operations, maritime services, and free trade zones.
Shares of Rites declined 1.21% to Rs 215.60 on Wednesday, 9 April 2025.
The Indian stock market is closed today in observance of Shri Mahavir Jayanti.
Central Bank of India fell 10.75% today to trade at Rs 36.93. The BSE PSU index is down 0.59% to quote at 17995.54. The index is up 12.36 % over last one month. Among the other constituents of the index, Rites Ltd decreased 2.67% and Bharat Electronics Ltd lost 2.62% on the day. The BSE PSU index went down 4.75 % over last one year compared to the 3.12% surge in benchmark SENSEX.
Central Bank of India has lost 12.09% over last one month compared to 12.36% gain in BSE PSU index and 4.28% rise in the SENSEX. On the BSE, 5.32 lakh shares were traded in the counter so far compared with average daily volumes of 4.35 lakh shares in the past one month. The stock hit a record high of Rs 72.99 on 03 Jun 2024. The stock hit a 52-week low of Rs 36.76 on 02 Apr 2025.