Miniratna PSU Stock Fixes Record Date For 2nd Interim Dividend, Shares Rally 9%

Shares of Miniratna company, RITES Ltd hit fresh 52-week high today after the board of directors gave their nod to consider second interim dividend. The company has fixed November 18, 2022 as the record date for second interim dividend for FY 2022-23. The company has a market capitalisation of Rs 9,842 crore. Check key takeaways below:

1. RITES Ltd Fixes Record Date For 2nd Interim Dividend

The board of directors of RITES Ltd stated in their regulatory filing, "Pursuant to Regulation 29 & 42 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, notice is hereby also given that in the said meeting, Board may consider payment of Second Interim Dividend, for the F.Y 2022-23, if any. If the payment of Second Interim Dividend for the F.Y 2022-23 is considered by the Board, then the record date for the same shall be Friday, November 18, 2022."

2. RITES Ltd Stock Performance

The shares of the PSU stock surged sharply by 9% intraday. The last trading price of RITES Ltd is Rs 409 apiece with 52-week high at Rs 417 apiece and 52-week low at Rs 226 apiece, respectively.

3. RITES Ltd 5-Years Return

The stock has given a return of 140% in last 5-years, 42% in last 3-years, and 45% in last 1-year. The stock has surged 53% in just last 3 months. The 1 week return is 13%.

4. About RITES Ltd

RITES is a leading player in the transport consultancy and engineering sector in India and uniquely placed in terms of diversification of services and geographical reach in various sectors such as railways, highways, urban engineering (metros) & sustainability, airports, ports, ropeways, institutional buildings, inland waterways, and renewable energy, according to its official website.

Disclaimer

The above stock gives details pertaining to interim dividend of RITES Ltd and record date. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.