Moneycontrol PRO
UPCOMING EVENT:Know how Global Investing can be spread beyond the US markets by joining an engaging webinar on November 30, 11:30 a.m.

Aarti Drugs share price gains 6% on share buyback plan

The share touched a 52-week high of Rs 1,025 and a 52-week low of Rs 105.56 on 08 October, 2020 and 19 March, 2020, respectively.

March 16, 2021 / 11:29 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Aarti Drugs share price rose 6 percent in the morning trade on March 16 as the company said it will consider share buyback on March 19.

A meeting of board of directors of the company is scheduled to be held on March 19, 2021, to consider the proposal of buyback of the fully paid-up equity shares of the company including matters related/incidental thereto, the company said in the press release.

The share price jumped 183 percent in last 9 months, while rose more than 400 percent in last 1-year.

Buyback refers to the repurchasing of free-float shares of a company by the promoters.

In a buyback issue, the company pays its shareholders a fixed value per share and re-absorbs that portion of its ownership that was previously distributed among public and private investors.

Close

The process enables the repurchase of shares from the existing shareholders usually at a higher price than the market price.

Companies do buybacks for various reasons such as ownership consolidation plan, undervalued price, or for boosting its key financial ratios making companies look more financially healthy.

aarti

At 09:27 hrs, Aarti Drugs was quoting at Rs 693.85, up Rs 26.25, or 3.93 percent on the BSE.

The share touched a 52-week high of Rs 1,025 and a 52-week low of Rs 105.56 on 08 October, 2020 and 19 March, 2020, respectively.

Currently, it is trading 32.31 percent below its 52-week high and 557.3 percent above its 52-week low.
Moneycontrol News
first published: Mar 16, 2021 10:07 am

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark