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This research study is an attempt to analyse the impact of dividend policy on stock price of 20 nationalised Indian banks listed in Bombay Stock Exchange (BSE) and the study is limited to a time period of 5 years.Several determinants are highlighted the role of Dividend policy. The primary aim of this research is to develop an elaborate discussion on how the volatility is prevailed in the Indian stock market with the dividend policies of different banks. Statistical tool like Moving Average is used for comparing the market value of shares before the date of Dividend declaration and after the announcement of dividend declaration. The results of the data analysis reveal that there is a significant effect of dividend policy on the market value of share price of selected Indian Banks. When Banks are display consistent dividend histories and pay more dividends to the shareholders they become more attractive to investors.

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