Railways: Railway company RITES will soon bring good news and receive bonus shares.

Railways: Publicly owned railway company Rail India Technical and Economic Services (RITES) has announced bonus shares to its shareholders. The decision will be considered and discussed in the executive committee meeting to be held on July 31. In a statement to the stock exchange, RITES said the board of directors will consider the possibility of issuing bonus shares at the meeting. The agenda of the meeting includes the approval of the unconsolidated financial results for the first quarter of the financial year 2024-25 on a full and consolidated basis and the declaration of the first interim dividend for the financial year. What is bonus share? Bonus shares are additional shares issued by a company to its existing shareholders without any additional payment. The amount of bonus shares received is based on the number of shares already held by the shareholder. In the last quarter of fiscal 2024, state-owned RITES' net profit fell 1.59% to Rs 136.67 crore. Low income is considered to be the main reason for this. Also Read: Strong rally in PNB shares, investors who witnessed 14% decline in two weeks, profited around Rs 138.89 crore. But their total income for the quarter fell from Rs 705.63 crore to Rs 667.68 crore. RITES shares have returned 34% to investors over the past one year, but they have fallen 3% in the past six months and 14% in the past two weeks. RITES Limited is a government owned company established in 1974 under the Ministry of Railways. The company offers a wide range of engineering and consulting services. Also Read: Income Tax Department issues instructions for higher penalty for falsely claiming expenses in ITR .