RITES Ltd (INE320J01015) and 26 other companies are set to trade ex-dividend, with September 17 established as the record date for final dividend eligibility. This move is expected to attract significant investor attention in the upcoming trading session.

RITES Dividend Details

RITES, a prominent player in the infrastructure consultancy and engineering sector, has declared a final dividend of 26.5%, which translates to Rs 2.65 per share for eligible shareholders.

Other Notable Dividend Announcements

Several other companies have also announced substantial dividends:

Investor Considerations

Investors should note that to qualify for these dividends, they must purchase shares before the ex-dividend date. Once approved, dividends will be credited directly to the bank accounts linked with investors' demat accounts.

Market Impact

The simultaneous dividend announcements from multiple companies are likely to generate increased trading activity and investor interest in the upcoming session. Investors are advised to carefully consider their portfolio strategies in light of these dividend declarations.

This wave of dividend announcements demonstrates the companies' commitment to sharing profits with shareholders, potentially signaling confidence in their financial positions and future prospects. However, investors should always conduct thorough research and consider their individual financial goals before making investment decisions based on dividend announcements.

RITES Limited , a prominent player in the infrastructure consultancy and engineering sector, has announced a significant new contract win. The company has secured a ₹25.3 crore order from NTPC Limited for a major project at the Mouda Super Thermal Power Project.

Contract Details

The contract, described as a "Biennial MGR Mega Contract," encompasses several key aspects of infrastructure development and maintenance:

• S&T (Signalling and Telecommunication) Maintenance
• Track Maintenance
• MGR (Merry-Go-Round) operation
• DU (Unloading) handling

This comprehensive contract is set to play a crucial role in enhancing the operational efficiency of NTPC's thermal power facility in Mouda.

Project Scope and Duration

The project involves infrastructure development work specifically tailored for NTPC's thermal power facility. RITES will be responsible for executing these tasks over a period of 24 months, as stipulated in the contract terms.

Financial Implications

The contract value stands at ₹25.30 crore, exclusive of GST. This represents a significant addition to RITES' order book and underscores the company's strong position in the infrastructure services sector.

Strategic Importance

This contract win highlights RITES' continued success in securing projects from major public sector enterprises. NTPC, being India's largest power generation company, is a prestigious client, and this project further cements RITES' reputation in the industry.

The MGR system plays a critical role in thermal power plants, facilitating the efficient transportation of coal from mines or storage areas to the plant. By securing this contract, RITES demonstrates its expertise in handling complex infrastructure projects crucial to India's power sector.

RITES Limited has confirmed that this contract does not fall under related party transactions, and neither the promoter nor the promoter group has any interest in NTPC Limited regarding this particular order.

As RITES embarks on this significant project, it reaffirms its commitment to delivering high-quality infrastructure solutions that contribute to the nation's power generation capabilities.