Moneycontrol
Last Updated : Mar 13, 2018 10:20 AM IST | Source: Moneycontrol.com

Alembic rises 4% on buyback approval

The buyback committee of the company approved buyback of up to 1,02,50,000 equity shares at the price of Rs 80 per share payable in cash for a total consideration not exceeding Rs 82,00,00,000.

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Shares of Alembic advanced 4.5 percent in the early trade on Tuesday as company approved the buyback of equity shares.

The buyback committee of the company approved buyback of up to 1,02,50,000 equity shares at the price of Rs 80 per share payable in cash for a total consideration not exceeding Rs 82,00,00,000.

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The committee fixed March 23 as the record date for determining the equity shareholders of the company eligible to tender equity shares under the buyback offer.

At 09:45 hrs Alembic was quoting at Rs 62.90, up Rs 2.25, or 3.71 percent on the BSE.

graph_alembic

The share touched its 52-week high Rs 72 and 52-week low Rs 33.85 on 24 January, 2018 and 11 August, 2017, respectively.

Currently, it is trading 12.64 percent below its 52-week high and 85.82 percent above its 52-week low.

Posted by Rakesh Patil
First Published on Mar 13, 2018 09:54 am
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