This PSU Company Signs MoU With CART To Explore Consultancy Works

RITES Ltd. on Friday, September 29, 2023, announced that it had signed a memorandum of understanding (MoU) with CARE Advisory Research and Training Ltd. (CART), a subsidiary of CARE Ratings Limited.

The MOU is signed to explore avenues of mutual collaboration in the consultancy domain, including ESG services, across sectors.

According to the company, both parties will work together to provide ESG consultancy services, such as ESG Assessment, Gap Analysis, ESG Due Diligence, ESG Policy Development and Roadmap, and ESG/Compliance reporting across sectors, under the terms of the inked Memorandum of Understanding.

Together, they will create a "go-to" market strategy to work proactively and introduce best practices while maximising operations.

Mr. Manobendra Ghoshal, Chief Strategy Officer, RITES Ltd., said, "Together, RITES and CART will explore and stimulate consultancy assignments to drive growth. The combined expertise aims at fostering a sustainable future by offering comprehensive solutions that integrate sustainable engineering and project management."

Shares of RITES on Friday closed 0.75% higher at Rs 492 apiece on the BSE. It gained 51.71% in 1 year. It gained 100.82% in 3 years, and 150.92% in 5 years. It has a market cap of Rs 11,822.85 Crore.

RITES Limited, a Miniratna (Category-I) and Schedule 'A' Central Public Sector Enterprise under the Ministry of Railways, incorporated on April 26, 1974, is a multidisciplinary engineering and consultancy organization, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies.