Gandhi Special Tubes share price rallied 16.4 percent intraday Monday ahead of board meeting to consider share buyback next week.
The company informed exchanges that a meeting of the board of directors of the company is scheduled to be held on December 18 to consider buy back of the fully paid up equity shares.
The board will also consider obtaining approval of the shareholders for appointment and payment of remuneration to the Managing Director and Joint Managing Director duly approved by the board at their meeting held on November 8.
The trading window for dealing in the shares of the company will close on December 12, 2017 and will open on December 21, 2017 for all the Directors and Designated employees, the company said.
Gandhi Special Tubes manufactures steel welded tubes, seamless steel tubes, pressed, drawn, stamped parts and tubular components, small diameter welded and cold drawn seamless steel tubes, condenser coils.
At 12:33 hours IST, the stock price was quoting at Rs 348.05, up Rs 40.05, or 13 percent amid high volumes on the BSE.
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