Everest Kanto gains 4% as board mulls share buyback
Everest Kanto Cylinder shares rose nearly 4 per cent in early trade after its board said it would consider a share buyback on Nov 17.
By ET Online |
MUMBAI: Everest Kanto Cylinder shares rose nearly 4 per cent in early trade after its board said it would consider a share buyback on Nov 17.
It would also consider investing upto Rs 10 crore, either as equity or loan, for an equal stake joint venture with Tomasetto Achilles group of Argentina.
Everest Kanto Cylinder is a developer and producer of industrial and CNG cylinders. Its cylinders are used for industrial gases, medical gases, fire fighting equipments, beverage industry, accumulator shells, aerospace, scientific research, and CNG-NGV cylinders for vehicles.
At 10:45 am, the company's shares gained 3.17 per cent to Rs 196.70, trimming some of its early morning gains.
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