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RITES Share Price: The company announced a final dividend of Rs 5 per share and a 1:1 bonus share issue earlier in July for its eligible shareholders, while later announcing September 20 as the record date for both in August.
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SD Retail's SME IPO opened for subscription today and will close on September 24. The company aims to raise Rs 65 crore through a fresh equity issue of 49.60 lakh shares, priced between Rs 124-131 each. The proceeds will fund new brand outlets, working capital, and general corporate purposes.
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And though markets are certainly celebrating, from where I sit, a lot of the good news that this rate cut could cement, i.e. the much hoped for soft landing, is already baked into current prices and valuations. So, I would not be at all surprised to see this burst of enthusiasm fade fairly quickly.
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