RITES rallies 6% on mulling bonus issue

RITES said a meeting of the board of directors of the company is scheduled to be held on June 24 to consider the proposal for issuance of bonus shares.

Shares of state-owned engineering consultancy company RITES rallied more than 6 percent intraday on June 14 ahead of the board meeting to consider bonus issue.


The stock climbed 20 percent in the last month. It was quoting at Rs 294, up to Rs 17.10, or 6.18 percent on the BSE at 0915 hours.

The railway consultancy firm said a meeting of the board of directors of the company is scheduled to be held on June 24 to consider the proposal for issuance of bonus shares.

The Miniratna (Category – I) Schedule 'A' public sector enterprise is a leading player in the transport consultancy and engineering sector in India and the only company having diversified services and geographical reach in this field under one roof.

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