RITES share price
RITES Ltd’s share price is set to be in the spotlight on Friday, September 20, 2024, as the stock will trade Ex-Bonus and Ex-Dividend. This means that Friday is the record date for investors to be eligible for both the 1:1 bonus issue and a dividend of ₹5 per share. To qualify for these benefits, investors needed to have purchased RITES Ltd shares by Thursday, September 19, 2024, so their names would appear in the shareholder register by the record date.
According to a release by RITES Ltd on the stock exchanges, the dividend will be paid to shareholders whose names appear in the Register of Members of the company or in the statements of beneficial ownership provided by NSDL and CDSL as of the close of business on Friday, September 20, 2024.
The record date of September 20, 2024, is also crucial for shareholders to be eligible for the company’s bonus issue. RITES Ltd has approved a 1:1 bonus issue, meaning investors will receive one fully paid-up equity share for every one share they currently hold, with a face value of ₹10 per share.
RITES share price: Updates
RITES Ltd’s share price has been in focus throughout September due to various positive developments. On September 4, 2024, the company announced a strategic partnership with NBCC (India) Ltd., a government-owned construction company, to collaborate on consultancy and engineering projects. This Memorandum of Understanding (MoU) will allow the two companies to jointly undertake a range of consultancy, fee-based projects, and EPC contracts, spanning from concept to commissioning.
Additionally, RITES Ltd has emerged as the Lowest Bidder (L-1) for a significant tender issued by the Uttar Pradesh State Bridge Corporation Limited. The company will provide consultancy services for supervising, monitoring, quality control, and ensuring work zone safety in the construction of bridges, rail overpasses, flyovers, and elevated roads across several districts. The total value of this bid is estimated at ₹60.03 crore, excluding GST.
Given these developments and the company’s upcoming Ex-Bonus and Ex-Dividend status, RITES Ltd shares are expected to remain a focal point for investors. The bonus issue and dividend provide attractive incentives for both current shareholders and potential investors, while the company’s ongoing projects and new partnerships further enhance its growth potential.
However, as always, investors should proceed with caution. Stock market conditions can be unpredictable, and individual investment decisions should be made with the guidance of certified financial experts. RITES Ltd’s future looks promising, but thorough analysis and professional advice are essential to navigating potential market risks.
Disclaimer: The views and recommendations in this analysis are those of individual analysts or brokerage firms. Investors are encouraged to seek advice from certified professionals before making any investment decisions, as market conditions may change and individual circumstances may vary.
FAQs
What’s the current Share Price for RITES?
Rs. 362.60
