Nestle India Share Price Rises Ahead Of Board Meeting On Bonus Shares
Nestle India Ltd.'s share price rose 1.63% after the company announced that its board of directors will convene on June 26, to discuss and potentially approve the issuance of bonus shares, as per an exchange filing on Thursday.
In light of this development, the trading window for Nestle India securities will be closed from June 19 to June 28, inclusive of both dates.
Apart from this, BSE updated the constituent list of the benchmark 30-share Sensex, resulting in the replacement of two stocks, including Nestle India. This adjustment will take effect next Monday, with capital inflows and outflows anticipated on June 20.
Nestle India Ltd. is set to be removed from the index, with an estimated outflow ranging from $209 million to $220 million (approximately Rs 1,815 crore to Rs 1,910 crore), which is 8.1 times its average daily volume. Over the past six months, Nestle India's stock has appreciated by 7.34%.
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