RITES announces 1:4 bonus shares

The state-owned consultancy company RITES has awarded bonus shares in the ratio of 1:4 on Monday, the record date will be announced later.

The shareholders of the company as of record date will be eligible to received one equity share of the company for every four shares held.

On the financial front, for FY19, the company's revenue was up by 35.7 per cent and PAT was up by 37.3 per cent.The company paid a final dividend of Rs. 4 per share for Q4. The company started the year with a order book of Rs. 4,800 crore and ended the year with an order book of Rs. 6,097 crore. RITES has free reserves of Rs. 50,00,00,000 and the same will be utilised for implementation of the bonus issue. The company had free reserves amounting to Rs. 2,184 crore as on March 31, 2019. The bonus shares will be credited 60 days from the date of approval which is June 24, 2019.

RITES is an internationally recognised consultant in the fields of transport, infrastructure and related technologies.

On Monday, the stock of RITES closed at Rs. 275.75 per share, down by Rs. 6.95 or 2.46 per cent.