Expect OGL export allowance very soon: Balrampur Chini

Integrated sugar manufacturing company Balrampur Chini Mills announced a share buyback of up to Rs 85 per share payable in cash, for an amount up to Rs 110 crore out of free reserves.

The buyback would be by way of purchase from open market through the stock exchanges.

Speaking to CNBC-TV18 about their rationale behind this move, Vivek Saraogi, MD of Balrampur Chini said,"We thought, it is a good way of using depreciation. For us, using the depreciation into buyback is an extremely non-stressful move on the balance sheet."