The scope of the MoU includes comprehensive maintenance and operational management of railway sidings, signalling and telecommunication (S&T) systems, and 25KV Overhead Electrification (OHE) isolators across DVC’s private railway network in West Bengal and Jharkhand.
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 31 March 2024, the Government of India held 72.20% stake in the company.
The company has reported 4.48% fall in consolidated net profit to Rs 126.10 crore on a 6.34% decline in revenue to Rs 643.25 crore in Q4 FY24 over Q4 FY23.
The scrip rose 3.74% to end at Rs 705.30 on Friday 15 June 2024.