BackMiniratna stock fixes record date for first interim dividend of FY 2022-23
With a market capitalization of Rs. 6,255.06 crore, Rites Ltd. is a mid-cap business that operates in the construction and industrial sectors.
PremiumWith a market capitalization of Rs. 6,255.06 crore, Rites Ltd. is a mid-cap business that operates in the construction and industrial sectors. RITES Limited, a Miniratna (Category-I) and Schedule 'A' Central Public Sector Enterprise under the Ministry of Railways, is active in India's transport consultancy and engineering sector and is ideally positioned for diversifying its services across a number of industries, including railways, highways, urban engineering (metros) & sustainability, airports, ports, ropeways, institutional buildings, inland waterways, and renewable energy. In addition to Thailand, Malaysia, and Indonesia, the firm is the sole export division of Indian Railways that provides rolling stock. Over 55 nations in Asia, Africa, Latin America, South America, and the Middle East are served by the company's infrastructure services, which have been provided for more than 48 years. For the purpose of paying a 40% dividend, the Board of Directors of the company has announced the record date to determine the eligibility of the shareholders.
The company has said in a regulatory filing that “The Board of Directors have declared first interim dividend for the Financial Year 2022-23 of Rs. 4 per share at the rate of 40 % of paid up share capital of the company. Further, as intimated earlier the record date set for the purpose of payment of first interim dividend for Financial Year 2022-23 is August 05, 2022."
On the NSE, the stock closed at ₹264.00 apiece, up by 5.07% from its previous close of ₹251.25. The stock has dropped 5.38 per cent over the past year, and on a year-to-date basis, it has dropped 2.78 per cent so far in 2022. The stock has dropped 3.81 per cent over the past six months, but it has gained 14.38 per cent during the past month. 10,33,209 shares totalling a value of ₹2,665.68 lacs were traded on the NSE today in the Rites trading activity. The stock had touched a 52-week-high of ₹317.90 on 25-October-21 and a 52-week-low of ₹226.20 on 20-June-22 which indicates that at the current market price of ₹264.00 the stock is trading 16.95% below the 52-week-high and 16.71% above the 52-week-low.
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