Balrampur Chini jumps 5% after board approves share buyback
The buyback would be subject to applicable statutory approvals.
By ETMarkets.com | Updated:
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NEW DELHI: Shares of Balrampur Chini jumped over 5 per cent on Friday after the company's board approved the buyback of fully paid-up equity shares of face value of Re 1 each, not exceeding 84,38,327 shares at a price of Rs 175 per equity share payable in cash for an aggregate amount of up to Rs 147,67,07,225.
The scrip surged 5.50 per cent to hit a high of Rs 145.85. Later, the scrip was hovering at Rs 144.95, up 5.23 per cent at 02:30 pm. This was against 0.31 per cent rise in the BSE Sensex.
The buyback would be subject to applicable statutory approvals. The shares of the company gained after 3 days of consecutive fall.
Earlier in the day, the stock opened at Rs 139.40 on BSE against its previous closing of Rs 137.75.
The shares of the company closed 5.52 per cent higher at Rs 145.35 on BSE.
The scrip surged 5.50 per cent to hit a high of Rs 145.85. Later, the scrip was hovering at Rs 144.95, up 5.23 per cent at 02:30 pm. This was against 0.31 per cent rise in the BSE Sensex.
The buyback would be subject to applicable statutory approvals. The shares of the company gained after 3 days of consecutive fall.
Earlier in the day, the stock opened at Rs 139.40 on BSE against its previous closing of Rs 137.75.
The shares of the company closed 5.52 per cent higher at Rs 145.35 on BSE.
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