Board to consider buyback of equity shares on Feb 17: Dr Reddy's

Dr Reddy's is mulling a buyback of equity shares.

Explaining the rationale behind the move Saumen Chakraborty, President and CFO, Dr Reddy's Lab said they will be making a proposal to the board on February 17 and as per listing obligation and disclosure requirement they have notified to the stock exchanges.

However, he said it would not be right to disclose beforehand what the company will propose in the board meeting.

With regards to cash he said as declared during the results earlier we had a small debt but at the end of Q3, it has turned to net cash. We have Rs 447 crore of net cash surplus. However, total cash availability will definitely.