Rites Stock Price Today: RITES shares soar over 13% ahead of bonus issue announcement
[hfe_template id='11223']
[ad_1]
Shares of railway PSU firm RITES soared over 13% to Rs 754.4 in Monday's trade on the BSE after the firm announced that its board of directors will consider issuing bonus shares for shareholders in its upcoming board meeting on July 31. In an exchange filing, RITES stated, "The Board of Directors of the Company may also consider the proposal for issuance of Bonus shares in the aforesaid Board Meeting." The meeting will also address the approval of standalone and consolidated unaudited financial results for the quarter ended June 30, 2024, and the consideration of payment of the first interim dividend for FY 2024-25, if any. Bonus shares are fully paid additional shares issued by a company to its existing shareholders. When a firm issues bonus shares, its shareholders do not have to incur any extra costs to get them. The number of bonus shares you receive depends on the number of shares of the firm you already hold. Previousl...