1:1 Bonus Issue, Rs 5/Sh Dividend Rewarded: Navratna PSU Wins New Order

Mid cap Navratna PSU RITES Ltd on October 19, 2024 received new order from Andhra Pradesh Power Generation Corporation for providing bye-pass line connecting RTPP yard to Kalamalla Railway Station to RTPP Siding, which was earlier awarded on Project Management Consultancy (PMC) basis is now converted into turnkey contract. Last trading price of RITES shares on BSE is Rs 302.80 per share. RITES Ltd shares witnessed steep fall of over 17% in last 3-months. The company's market capitalisation stood at Rs 14,552.68 crore. RITES shares jumped 21% year-to-date and soared 111% in last 3-years.

Earlier this year, the company had rewarded shareholders with 1:1 bonus share and Rs 5 per share dividend. Meanwhile, RITES will hold its meeting of Board on November 6, 2024 to consider and approve financial results and dividend, if any. Check details below:

RITES Bags New Order: According to the exchange filing of Rites, "the order needs to be executed in 18-months. The order is worth Rs 53.5 crore excluding GST (including Project Management Consultancy fee).

RITES Ltd To Mull Financial Results: According to the BSE filing of Rites dated October 17, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 6th November, 2024 inter- alia to consider, approve and take on record Standalone and Consolidated Unaudited Financial Results of the Company for the quarter and half year ended on 30th September, 2024."

RITES To Consider Dividend, Record Date Fixed: The exchange filing stated, "Board may consider payment of Second Interim Dividend, for the F.Y 2024-25, if any. The Company has fixed Friday, 15th November, 2024 as the Record date for the purpose of payment of second Interim Dividend for the F.Y 2024-25, if declared by the Board."

RITES Shares Performance: The 52-week high price of RITES Ltd shares on BSE is Rs 413.08 per share (as on 27/02/2024) and 52-week low price is Rs 216.33 per share (as on 26/10/2023), respectively. RITES shares fell 7% in last 6-months, gained 20% in 1-year, jumped 57% in last 2-years, and offered return of 127% in last 5-years.

About RITES Limited: RITES Limited is a Navratna Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India. It has diversified services and geographical reach. The company has an experience spanning 49 years and undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and Middle East region.

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