Share News: As soon as the market closed, the government company announced a big deal, the stock will be monitored on Monday:

News Topical, Digital Desk : Rites Ltd on Friday informed after the stock market closed that the company has signed an MoU with Hindustan Copper to develop 'critical' mineral supply chain in India and abroad. In a information given to the exchange, the company said Rites Limited today signed a Memorandum of Understanding (MoU) with Hindustan Copper Limited (HCL), a CPSE under the Ministry of Mines, to develop a rapid, reliable and sustainable supply chain of metals and minerals, including critical minerals, in India and abroad.

The company said that this partnership will focus on exploration, extraction, refining and production activities in India and abroad, leveraging the technical and financial strengths of both companies. This cooperation includes participation in mineral block auctions and development of mineral infrastructure.

what will be the benefit

As part of the MoU, RITES will provide end-to-end consultancy and logistics solutions, including project planning, transport infrastructure development, multimodal transport planning and rolling stock support, to strengthen HCL's mining operations. This strategic partnership aims to build an integrated, self-reliant mineral value chain that supports India's critical mineral security, promotes sustainable growth and strengthens the country's economic resilience.

Stock Performance

On Friday, the company's stock closed at Rs 300.50 with a decline of 2.81 percent. In the last one year, the company's stock has seen a decline of 7.10 percent.