IRFC, BHEL, other PSU stocks surge up to 6% on new dividend, bonus norms
HomeMarket NewsIRFC, BHEL, other PSU stocks surge up to 6% on new dividend, bonus norms
IRFC, BHEL, other PSU stocks surge up to 6% on new dividend, bonus norms
The government has revised capital restructuring norms for these companies with regards to their share buyback, dividend payouts, bonus issues as well as stock splits.
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By Hormaz Fatakia
November 19, 2024, 10:46:32 AM IST (Published)
IRFC, BHEL, other PSU stocks surge up to 6% on new dividend, bonus norms
Shares of India's state-run companies are surging on Tuesday, November 19, after the government made changes to their capital restructuring norms after eight years.
The Nifty PSE index, an index of India's 20 state-run companies, is currently trading with gains of over 2%, with all constituents trading with gains between 0.5% to as high as 5.5%.
Shares of Indian Railways Finance Corporation (IRFC) are the top gainers on the PSE index, trading with gains of 5.5%, followed by those of BHEL (up 4.3%), REC and PFC (up 4% each). IRFC shares will also start trading in the Futures & Options space from November 29.
The government has revised capital restructuring norms for these companies with regards to their share buyback, dividend payouts, bonus issues as well as stock splits. These are some of the changes: