Fri Sep 20 09:23:58 UTC 2024: ## RITES Stock Soars 12% on Ex-Bonus and Ex-Dividend Day

**New Delhi, September 19, 2024:** Shares of RITES Ltd. surged by up to 12% on Thursday, driven by strong buying interest ahead of the ex-bonus and ex-dividend trading day. The record date for the 1:1 bonus and Rs 5 per share dividend is set for September 20th.

Investors were rushing to acquire RITES shares before the record date to ensure their eligibility for the bonus and dividend. The dividend will be distributed to shareholders listed in the company’s register and those holding beneficial ownership statements from NSDL and CDSL as of the close of business on September 20th.

RITES has approved a 1:1 bonus issue, which means that for every existing share, shareholders will receive one additional fully paid-up equity share. The bonus issue will increase the number of outstanding equity shares and proportionally reduce the share price.

RITES stock has been in the spotlight this month due to several positive developments. On September 4th, the company announced a partnership with NBCC (India) Ltd. to explore and undertake consultancy, fee-based projects, and EPC contracts. RITES also emerged as the Lowest Bidder (L-1) for a tender issued by UP State Bridge Corporation Limited, securing a consultancy contract valued at Rs 60.03 crore plus GST.

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