The Board of Directors of RITES Ltd, (NSE: RITES, BSE: 541556) an infrastructure consultancy and engineering company, at its meeting declared an interim dividend of Rs 5 per share on face value of Rs 10 each amounting to Rs 120.15 crore (at the rate of 50 per cent of paid-up capital). The record date for the purpose of payment of dividend is January 11, 2021. Standalone revenue of the company for the first half of FY21 has been Rs 488 crore and profit after tax has been Rs 131 crore.
Dr Rajendra Prasad Singh, former CMD, Powergrid, ex-chairman BOG (IIT-Guwahati) and current chairman BOG (IIT-Bhubaneswar), has been appointed as a member of Nirman Samiti of Virat Ramayan Mandir to be built at Kesaria in Ram Janaki Marg connecting Ayodhya to Janakpur. Dr Singh is known for contributing to the society and has been a proponent of supporting cultural setups. He is known for his contributions in the Indian power sector, particularly the establishment of the national power transmission grid and modern load dispatch centers. He was responsible for restoration and normalisation of grid operation during natural calamities in India. Under his leadership as CMD Powergrid, during the Odisha cyclone, power supply was restored in record 11 days against projected six months. In Bhuj, Gujarat, the damaged electrical systems were fixed before the onset of monsoons as desired by the then Prime Minister.
Piyush Goyal, Minister of Railways, reviewed the progress of the ongoing USBRL (Udhampur Srinagar Baramulla Rail Link) National Project in Jammu and Kashmir. VK Yadav, CEO and chairman, Railway Board and Ashutosh Gangal, GM, Northern Railway were also present in the meeting held via video conferencing. Vijay Sharma, Chief Administrative Officer/ Construction USBRL Project apprised Goyal about the latest status of work on the last leg of the project between Katra-Banihal. Construction of the first three phases of the project has been completed and the line is in operational use for running of the trains between Baramulla-Banihal in Kashmir valley and Jammu-Udhampur-Katra in Jammu region. Work on the intervening 111 km section — Katra-Banihal — the most arduous and treacherous portion due to its geology and extensive riverine system replete with deep gorges is ongoing. Three agencies — IRCON, KRCL and Northern Railway — with extensive experience in construction of rail lines are involved in this project. Many international agencies and premier Indian institutes like IIT Roorkee, IIT Delhi, DRDO and Geological Survey of India are providing expertise in planning and implementation.
In Chennai, SRM Institute of Science and Technology has organised one day webinar on Introduction to Securities Market in association with Metropolitan Stock Exchange, Securities and Exchange Board of India and Central Depository Service Limited. The key speaker of the webinar was K Srikanth, Deputy GM SEBI, Hyderabad office. He delivered the lecture about the market regulators role and challenges in securities market and also addressed the issues and complainants of the investors, grievance redressal procedures. The final session was shared by B Karthik, Head of the Tamil Nadu region, Central Depository Service Limited. He enlightened the students by sharing about the securities depository and its purposes. He also emphasised the role of the depository instuitions in India.
