Delta Corp to consider buyback on March 28; shares hit upper circuit

Shares of Delta Corp hit upper circuit in Thursday's trade after the company on Wednesday informed bourses that the board of directors on March 28 will consider the proposal for buyback of fully paid-up equity shares.

The scrip rallied 5 per cent to Rs 56.70 in early trade, while the benchmark BSE Sensex was up 3.62 per cent at 29,588 at around 10 am (IST).

Delta Corp had scaled 52-week high and 52-week low of Rs 277.75 and Rs 54 on April 3, 2019 and March 25, 2020, respectively.


In a regulatory filing, the company said, “The board of directors of Delta Corp will be held on Saturday, 28th March 2020 to consider the proposal for buy-back of fully paid-up equity shares of face value of Re 1 each of the company.”

Promoters held 32.77 per cent stake in the company as of December 31. On the other hand public shareholders had 67.23 per cent stake in Delta Corp.