Aarti Drugs scales fresh 52-week high on fixing record date for buyback

NEW DELHI: Shares of Aarti Drugs advanced over 6 per cent in early trade and scaled their fresh 52-week high of Rs 784.80 after the company informed bourses that it has fixed January 19 as record date for the purpose of buyback of upto 2.75 lakh shares representing upto 1.15 per cent stake at Rs 875 per share.

The scrip was trading 6.05 per cent up at Rs 776.25 at around 9.42 am (IST). Shares of the company opened at Rs 766.25 and touched a high and low of Rs 784.80 and Rs 760.05, respectively, eventually closing at Rs 767.40, up 4.84 per cent.

Inga Capital (formerly known as Inga Capital Private) has been appointed as the manger to the proposed buyback.


Promoters were holding 62.38 per cent stake in the company as of January 8, 2018.

On the BSE, 29,000 shares were traded in the counter so far, compared with average daily volumes of 12,000 shares in the past two weeks.

The stock had hit a 52-week low of Rs 456.25 on May 24, 2017.

For the quarter ended September 30, 2017, the company reported net profit of Rs 23.60 crore, up 6.93 per cent, against Rs 22.07 crore in the corresponding quarter last year. Net sales of the company increased 1.32 per cent year-on-year to Rs 319.27 crore during the quarter under review.