Rites Limited’s shares were up by 1.24 per cent after the company reported that it had inked a Memorandum of Understanding (MoU) with iHUB DivyaSampark, IIT-Roorkee.
The collaboration between RITES and iHUB DivyaSampark IIT-Roorkee will encompass a range of initiatives, events, and networking endeavours geared towards the exploration of opportunities in cyber-physical systems. The focus will be on advancing technology in line with Industry 4.0 as well as developing AI-based solutions tailored to industry needs.
Furthermore, both entities will work to explore AI applications in critical areas, including rolling stock maintenance, inspection, bridge maintenance, office management, and airport operations.
The shares were up by 1.24 per cent to Rs. 509.55 at 12.30 p.m. on the BSE.