RITES Ltd Wins New Order from AP Power Generation Corp., announces 1:1 Bonus issue

New Delhi: Mid-cap Navratna PSU RITES Ltd on October 19, 2024, received a new order from Andhra Pradesh Power Generation Corporation for providing a bye-pass line connecting the RTPP yard to Kalamalla Railway Station to RTPP Siding, which was earlier awarded on Project Management Consultancy (PMC) basis is now converted into a turnkey contract.

 According to the exchange filing of Rites, "the order needs to be executed in 18 months. The order is worth Rs 53.5 crore excluding GST (including Project Management Consultancy fee).

 According to the BSE filing of Rites dated October 17, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 6th November, 2024 inter- alia to consider, approve and take on record Standalone and Consolidated Unaudited Financial Results of the Company for the quarter and half year ended on 30th September, 2024."

The exchange filing stated, "Board may consider payment of Second Interim Dividend, for the F.Y 2024-25, if any. The Company has fixed Friday, 15th November 2024 as the Record date for the purpose of payment of the second Interim Dividend for the F.Y 2024-25, if declared by the Board."

 The 52-week high price of RITES Ltd shares on BSE is Rs 413.08 per share (as of 27/02/2024) and the 52-week low price is Rs 216.33 per share (as of 26/10/2023), respectively. RITES shares fell 7% in the last 6 months, gained 20% in 1 year, jumped 57% in last 2 years, and offered a return of 127% in last 5 years.

 The last trading price of RITES shares on BSE is Rs 302.80 per share. RITES Ltd shares witnessed a fall of over 17% in the last 3 months. The company's market capitalization stood at Rs 14,552.68 crore. RITES shares jumped 21% year-to-date and soared 111% in last 3-years.