It will be a tender buyback with promoter participation and the company plans to fund it by monetising its investments, said MK Dhanuka, MD, Dhanuka Agritech.
Siyaram Silk Mills reported a net profit of Rs 10.73 crore in the quarter that ended in June; four percent higher than the last quarter. Net sales of the company stood at Rs 250.73 crore in April-June quarter.
Some fund-shareholders of Dell Inc said they were outraged by company founder Michael Dell's plan to take the computer maker private for less than USD 14 a share, accusing him of effectively trying to steal the company.
Debt-laden telecoms carrier Reliance Communications is seeking shareholders' approval to increase its authorised share capital to Rs 2,500 crore from Rs 1,500 crore currently, it said in a notice for its annual general meeting.