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Last Updated : Apr 17, 2017 11:28 AM IST | Source: Moneycontrol.com

Gujarat Apollo Industries rises 7% on buyback approval

The company's board approved buyback of its equity shares upto Rs 24 crore at maximum price of Rs 189 per share from its shareholders.

 
 
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Shares of Gujarat Apollo Industries rose 7 percent intraday Monday on approval of buyback of its shares by board of directors.

The company's board approved buyback of its equity shares upto Rs 24 crore at maximum price of Rs 189 per share from its shareholders.

The said buyback is expected to reduce outstanding number of equity shares and consequently increase earnings per share over a period of time.

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At 11:20 hrs Gujarat Apollo Industries was quoting at Rs 174.00, up Rs 7.05, or 4.22 percent on the BSE.

Posted by Rakesh Patil
First Published on Apr 17, 2017 11:28 am
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