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RITES spurts on mulling bonus shares

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was up 4.86% to Rs 290.35 at 11:12 IST on the BSE after the company announced that a board meeting will be held to consider issue of bonus shares.

The announcement was made during market hours today, 14 June 2019.

Meanwhile, the was down by 156.37 points, or 0.39% to 39,584.99.

On the BSE, 65,000 shares were traded in the counter so far compared with average daily volumes of 25,000 shares in the past two weeks. The stock had hit a high of Rs 294.50 and a low of Rs 277 so far during the day. It hit a 52-week high of Rs. 326.55 on 17 August 2018 and a 52-week low of Rs 190 on 2 July 2018.

announced that a meeting of board of directors of the company will be held on 24 June 2019, to consider the proposal for issuance of bonus shares.

reported a rise of 70.18% in the net profit to Rs 131.82 crore on a 33.34% rise in the total revenue to Rs 761.84 crore in Q4 March 2019 over Q4 March 2018.

RITES is a Miniratna (Category-I) Schedule A' Public Sector Enterprise and a in the transport consultancy and engineering sector in India, having diversified services and geographical reach.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 14 2019. 11:15 IST