RITES gains 6% to Rs 295 on bonus issue plan announcement

The board of directors of the company is scheduled to meet on Monday, June 24 to consider the proposal for issuance of bonus shares.

RITES shares rallied 6 per cent to Rs 295 on the BSE on Friday in early morning deal after the company said its board will meet on June 24, 2019 to consider bonus issue proposal.

“A meeting of board of directors of the Company is scheduled to be held on Monday, June 24, 2019 inter alia to consider the proposal for issuance of bonus shares,” Rites said in a regulatory filing today.

RITES is a Miniratna (Category-I) schedule 'A' public sector enterprise and a leading player in the transport consultancy and engineering sector in India having diversified services