Rs 4.75/Share Dividend: Multibagger PSU Navratna Stock Rises 35% In 2-Weeks, Falls 5.42% Today

Mid cap Navratna public sector undertaking, RITES Ltd shares fell 5.42% intraday today as its Board of Directors approved third interim dividend of Rs 4.75 per share and fixed February 9, 2024 as the record date. Last trading price of RITES shares on BSE is Rs 702.85 apiece. The company has a market capitalisation of Rs 16,889.62 crore. RITES stock offered return of 106% in last 1-year only. Check details below:

RITES Ltd Approves Interim Dividend: As per the BSE filing of the company dated February 1, 2024, "Pursuant to Regulation 30 read with Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, this is to inform you that the Board of Directors at their meeting held today i.e. on Thursday, February 01, 2024 have declared Third Interim Dividend for the Financial Year 2023-24 at the rate of Rs. 4.75 per share (47.5% of paid up share capital of the company)."

RITES Ltd Stock Performance & Return: The 52-week high price of RITES shares on BSE is Rs 766.00 apiece and 52-week low price is Rs 311.60 apiece, respectively. RITES shares rose 59% in last 3-months, gained 51% in last 6-months, rallied 157% in last 2-years, and offered return of 172% in last 3-years. In last 5-years, RITES stock gained 266%.

RITES Inks MoU with NEEPCO: According to the regulatory filing of the company dated December 22, "To enhance the power infrastructure in the region, the Arunachal Pradesh Government has entrusted NEEPCO for executing five hydropower projects in the Siang Basin. As per the MoU MoU, RITES will also support NEEPCO as a Project Management Consultant for works related to rail infrastructure facilities, including signalling & telecommunications, overhead equipment, and conveyor systems. Also, the MoU entails works related to roads, buildings and other civil ancillary structures, including utilities."

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 highlights dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.