Gillette shares rise on buyback offer buzz

Shares of Gillette India have been rising of late. According to brokers tracking the counter, talk is that company may announce a buyback shortly. The stock has gained close to 12% in the past one month.

When contacted, P&G spokesperson said: “We categorically deny that there is any proposal in front of Gillette India regarding buyback of shares.” The stock closed at Rs 1,343 on Wednesday, down about 2% from the previous close, after touching a 52-week high of Rs 1,408 on Tuesday.