Promoter Nowrosjee Wadia and Sons sold 3,61,750 equity shares in Bombay Burmah Trading Corporation at Rs 1,186.30 per share on the BSE.
The Board of Directors approved a proposal for buyback fully paid-up equity shares of face value of Rs 2 each for an amount not exceeding Rs 150 crore.
The company added that the agreement postulates that the entire smelting capacity of the Odisha plant is dedicated to TSML to produce up to 70,000 metric tonnes of high carbon ferro chrome per annum.
The share touched its 52-week high Rs 95.20 and 52-week low Rs 32.40 on 17 January, 2020 and 24 March, 2020, respectively.