Rs 5/Sh Dividend, 1:1 Bonus Share: Navratna PSU Turned 2,80,000 Into Rs 7,46,000 In 2-Yrs

Mid cap Navratna PSU RITES Ltd shares are all set to trade ex-dividend and ex-bonus on September 20, 2024. The PSU recommended 1:1 bonus share on July 31, 2024 and Rs 5 per share dividend on May 28, 2024. Last trading price of RITES shares on BSE is Rs 711.35 apiece. RITES Ltd shares gained 4.65% in last 1-week and rose 148% in last 2-years. The PSU has a market capitalisation of Rs 17,093.87 crore. Check details below.

1000 Shares Bought 2 Years Ago Gave Corpus Of Over 7 Lakh: The PSU gave attractive returns of 153.87% in the last 2-years. 2 years ago, if you had bought 1000 RITES Ltd shares on September 17, 2022 at Rs 280.20 per share with an investment of Rs 2,80,200, you would have got a total corpus of Rs 7,46,793.7 lakh today as the stock price is Rs 711.35 per share today. It includes the total dividend of Rs 35.25 per share during the last 2 years that RITES offered its shareholders. Your net profit would have been 431143.74 lakh.

RITES Shares Performance: The 52-week high price of RITES shares on BSE is Rs 826.15 apiece (as on 27/02/2024) and 52-week low price is Rs 432.65 apiece (as on 26/10/2023), respectively. RITES shares zoomed 4.65% in last 1-week, gained 8.50% in last 1-month, rallied 41% year-to-date, and soared 37% in last 1-year. In last 2-years, RITES shares rallied 148% and zoomed 203% in last 5-years.

Anand Rathi Gives Buy? Anand Rathi has recommended investors to buy RITES shares for a year with a target price of Rs 1000. Meanwhile, A R Ramachandran, Independent SEBI Research Analyst said, "Rites Ltd stock price is slightly bullish on the Daily charts with strong support at 664. A Daily close above resistance of 687 could lead to targets of 729-787 in the near term."

RITES Bonus Share: The BSE filing of RITES dated Aug 14, 2024 stated, "pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, 20th September, 2024 as the Record Date for the purpose of Bonus Issue.

RITES Dividend In 2024: The exchange filing of RITES Ltd issued as on May 28, 2024 said, "recommended Dividend of Rs. 5.00/- per share (i.e. 50%) on 24,03,01,887 equity shares of face value of Rs. 10 /- each of the Company for the financial year 2023-24, subject to approval of the same by the Shareholders in the ensuing 50th Annual General Meeting of the Company."

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.

Disclaimer:

The stock has been picked from the brokerage report of Anand Rathi and A R Ramachandran. Greynium Information Technologies, the Author, and the respective Brokerage House 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.