Breaking with commonly held beliefs at the time, the crux of Williams' theory was that the intrinsic value of a company was equal to the present value of its future dividends, not earnings. “Earnings are only a means to an end,” Williams argued, “and
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Introduction: The stock market is a complex and dynamic environment where investors and traders buy and sell securities. It is a platform where companies raise capital by issuing stocks and bonds to the public. In India, the major stock exchange