Indo Asian Fusegear to consider buyback; stock up 6%

Shares of Indo Asian Fusegear touched an intraday high of Rs 87.70 and an intraday low of Rs 81.95. At 12:12 hrs the share was quoting at Rs 85.85, up Rs 4.85, or 5.99%.

The company's board, CNBC-TV18 reports, is likely to consider a buyback of shares. Sources say the board may approve a buyback of 10% equity. 

Earlier, Indo Asian Fusegear had got Rs 600 crore by selling its switchgear division.

The company, however, declined to comment on the report. 
 
It was trading with volumes of 99,594 shares, compared to its 5-day average of 9,831 shares, an increase of 913.02%.
 
In the previous trading session, the share closed up 2.40% or Rs 1.90 at Rs 81.

Share Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	80.25	85.85	5.60	6.98
5-Days	78.65	85.85	7.20	9.15
7-Days	78.45	85.85	7.40	9.43
15-Days	79.70	85.85	6.15	7.72
1-Month	72.60	85.85	13.25	18.25
3-Month	88.80	85.85	-2.95	-3.32
6-Month	80.65	85.85	5.20	6.45
9-Month	131.65	85.85	-45.80	-34.79
1-Year	75.75	85.85	10.10	13.33