The share price of Polyplex Corporation was down almost 5 percent intraday on April 13 after the board approved a Rs 5,481.50-lakh buyback offer at a maximum price of Rs 475 per share.
The Board of Directors approved the buyback in a meeting on April 9.
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The stock, which has jumped over 24 percent in the last five days, and was quoting at Rs 398.00, down Rs 20.50, or 4.90 percent. It touched an intraday high of Rs 432 and an intraday low of Rs 387.15.
It was trading with volumes of 1,390 shares, compared to its five day average of 6,054 shares, a drop of 77.04 percent.
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