Gandhi Special Tubes rallied in trade after the board approves buyback of 8.8 lakh shares at a price of Rs 500 per share.
In an interview with CNBC-TV18, MG Gandhi, Chairman and MD of the company spoke about the latest happenings in his company and sector.
We have about Rs 144 crore of cash and we are going to utilise Rs 44 crore of it for this buyback, he said.
We are expecting revenue of Rs 120 crore in FY18, he added.
Demand is good from the tractor side as well as from the automotive side, said Gandhi.
Done extremely good on our export part also. This year our export will jump 3 folds compared to last year, he further mentioned.
For full interview, watch accompanying video...
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