New Delhi, Feb. 20 -- Rites share price soared by almost 7% during Thursday's trading session following the company's signing of a Memorandum of Understanding (MoU) with the Central Water and Power Research Station (CWPRS). This agreement aims to facilitate collaboration on engineering consultancy services as well as research and development initiatives related to water resources, marine, and inland waterways infrastructure.

The company announced in an exchange filing that this strategic collaboration will merge Rites' proficiency in transport infrastructure consultancy and project management with CWPRS' cutting-edge research capabilities in water resources to promote innovative solutions in marine, coastal, inland waterways, and hydropo...