Shares of central PSU NBCC climbed 8% to Rs 192.40 on BSE following the company’s announcement to consider issuing bonus shares. The meeting is scheduled for August 31, 2024. NBCC, previously distributing bonus shares in February 2017, often rewards its shareholders with dividend payouts.
Citi downgrades India to ‘neutral’ as valuations remain elevated
Citi has downgraded India’s market rating to ‘neutral’ due to high valuations and moderating earnings growth forecasts. While acknowledging India’s strong macro story and potential