GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of PSU railway stock RITES on Monday rallied up to 5% to Rs 309.85 on BSE after it won a contract for engineering services for upgrading of the Palmyra to Moleson Creek Highway in Guyana for $9.71 million. "We are pleased to inform you that RITES has emerged as top scorer (H-1 bidder) based on QCBS evaluation for “Provision of Engineering Services for Design- Build-Finance: Upgrading of the Palmyra to Moleson Creek Highway- Lot 1-3” from Ministry of Public Works, Government of the Co-operative Republic of Guyana," RITES said in a regulatory filing. The letter of acceptance shall be issued after due process of scrutiny /evaluation by the Ministry of Public Works, Government of the Co-operative Republic of Guyana, it said. The project has a timeline of 60 months including the pre and post-construction period. Earlier last week, the company had announced that it won a Rs 148.25 crore order from the Indian Institute of Manage...

[hfe_template id='11223'] [ad_1] Shares of RITES rallied 8% to a day’s high of Rs 324.70 on the BSE after the company announced that it has entered into a strategic partnership with Etihad Rail to explore railway infrastructure development in the UAE. “RITES Ltd., a prime transport infrastructure consultancy, today signed a Memorandum of Understanding (MoU) with Etihad Rail, the developer and operator of the UAE National Rail Network, to explore cooperation and synergise strengths in developing railways and related infrastructure services in the UAE and wider region,” the company said in a filing to the exchanges. The MoU also includes a capacity analysis of rail corridors in the UAE and surrounding areas to boost efficiency, streamline logistics, and enhance trade routes. Both parties will focus on innovation and advanced IT solutions for train operations, passenger management, and maintenance practices. The company stated that this partnership aims to combine the stren...

[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...