Transport infrastructure consultancy and engineering firm RITES Ltd has signed a Memorandum of Understanding (MoU) with CRISIL Ltd to jointly develop integrated, data-driven infrastructure consultancy solutions. According to reports from CNBC TV18, the partnership was announced on Wednesday (May 27) and will combine RITES' transport infrastructure and engineering consultancy capabilities with CRISIL's strengths in data intelligence, analytics, research and market insights. As per an official statement, the collaboration aims to strengthen analytical and advisory support for infrastructure projects through market intelligence, data validation, financial due diligence, valuation support and development of analytical models for consultancy assignments undertaken by RITES.
Under the MoU, both organisations will explore consultancy assignments and infrastructure opportunities across multiple sectors including railways, metro rail, highways, expressways, airports, ports, ropeways, bridges, tunnels, urban transport, energy, water resources, hydropower, wastewater management and industrial infrastructure in India and abroad. The partnership will combine RITES' expertise in transport infrastructure and engineering consultancy with CRISIL's capabilities in data intelligence, analytics, research and advisory services. As reported by CNBC TV18, the collaboration will focus on strengthening analytical and advisory support for infrastructure projects through market intelligence, data validation, financial due diligence, valuation support and development of analytical models for consultancy assignments undertaken by RITES.
According to CNBC TV18, shares of RITES Limited ended at ₹206.25, up ₹1.05 or 0.51% on the BSE, while shares of CRISIL Limited ended at ₹3,988.55, down ₹27.75 or 0.69%. The mixed market reaction reflects investor sentiment toward the strategic partnership between the two infrastructure consulting firms. CRISIL Limited shares were last trading at ₹3,988.55 compared to the previous close of ₹4,016.30, with a total of 3,308 shares traded in over 635 trades. The stock hit an intraday high of ₹4,048.35 and intraday low of ₹3,977.25, with net turnover of ₹132,39,546. RITES Limited shares were last trading at ₹206.05 compared to the previous close of ₹205.20, with a total of 26,262 shares traded in over 571 trades. The stock hit an intraday high of ₹208.00 and intraday low of ₹204.20, with net turnover of ₹54,18,108.
