Alembic gains 2%, to consider buyback on March 12

By Moneycontrol News

Moneycontrol News

Shares of Alembic gained 2.6 percent in the early trade on Thursday as company is going to consider buyback of equity shares.

A meeting of buyback committee of Alembic is scheduled to be held on March 12 to consider the buyback of its equity shares.

Related News

The board will consider the buyback price and number of equity shares to be bought back by the company.

They also fix the record date, to determine the equity shareholders of the company who shall be eligible to participate in the buy-back offer, as per Regulation 9 of Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998.

For prevention of insider trading, the trading window shall be closed from March 8 till March 14, 2018.

At 09:16 hrs Alembic was quoting at Rs 62.30, up Rs 1.40, or 2.30 percent on the BSE.

Posted by Rakesh Patil