Thursday, June 5, 2025
HomeStocksRITES Share Price: RITES shares rally over 12% as stock trades ex-dividend,...

RITES Share Price: RITES shares rally over 12% as stock trades ex-dividend, ex-bonus

-

[ad_1]

Shares of state-owned company RITES rallied 12.5% to its day’s high of Rs 383.35 on BSE as the stock started trading on an ex-dividend and an ex-bonus basis from today.

The company announced a final dividend of Rs 5 per share and a 1:1 bonus share issue earlier in July for its eligible shareholders, while later announcing September 20 as the record date for both in August.

Thursday was the last day to buy the shares of the company to be eligible for the aforementioned dividend and bonus shares as the shareholder’s name must appear in the company’s records before the record date for qualifying for the eligibility.

A 1:1 bonus share issue means that for each existing share of the company held, shareholders will receive an additional share credited to their demat account, provided they are eligible.

In the past 12 months, RITES has declared equity dividends totaling Rs 16.75 per share. With the share price at Rs 372.30, the company’s dividend yield is 4.50%, according to Trendlyne data.

Also read: IIFL Finance shares rally 12% as RBI lifts curbs on gold loan business

The same data suggests that prior to this, the company issued bonus shares only once, in the year 2019.

The shares of RITES have increased by 46.17% over the past year, gaining nearly 47% so far in the current year. Technically, the stock is well placed above all its short, medium and long term exponential moving averages.

On the Relative Strength Indicator (RSI), the stock is oscillating near the 52 level, which is a mid range mark on the indicator.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

[ad_2]

Source link

LATEST POSTS

WitchSpin Casino: Daily ₱777 Bonus Explained

Online casinos attract players by offering exciting games and generous bonuses. One of the most popular features of WitchSpin Casino is its daily ₱777 bonus....

Gaming and Adventure Combined: The Ultimate Guide for Norwegian Tourists

For many Norwegian tourists, traveling is all about exploring new places, immersing themselves in different cultures, and seeking unforgettable adventures. But what if your journey...

Non-Disclosure Agreement for Customer Privacy Protection

In today's digital age, privacy concerns are more significant than ever, especially when it comes to safeguarding the personal and sensitive information of customers. Businesses...

How to Analyze Odds for a Spot Bet

The adrenaline rush of Spot Bet—placing wagers while the action unfolds—attracts countless sports enthusiasts seeking to capitalize on their real-time insights. Yet beneath this thrilling...

Most Popular

spot_img