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RITES Considers Bonus Issue, Stock Gains

RITES board to consider a proposal for issuance of bonus shares on 24th June, 2019

Shares of RITES Limited rallied over 6% to Rs294.30 on Friday after the engineering & Consultancy Company reportedly said its board will meet on 24-June to think issuance of bonus shares.

The RITES stock touched an intraday high at Rs 296.50 on the NSE, during Friday’s session.

During the mid-market session at 12.25pm, RITES Limited’s stock was trading 6.85% higher at Rs.294.80 as compared to 0.45% or 53-points fall in NSE Nifty at 11860.80

At the same time, the BSE Sensex was trading at 39598-level, down by 143.31 points.