Aarti Drugs share price gains 6% on share buyback plan

The share touched a 52-week high of Rs 1,025 and a 52-week low of Rs 105.56 on 08 October 2020 and 19 March 2020, respectively.

Aarti Drugs' share price rose 6 percent in the morning trade on March 16 as the company said it will consider share buyback on March 19.

A meeting of the board of directors of the company is scheduled to be held on March 19, 2021, to consider the proposal of buyback of the fully paid-up equity shares of the company including matters related/incidental thereto, the company said in the press release.

The share price jumped 183 percent in the last 9 months, while rose more than 400 percent in the last year.

Buyback refers to the repurchasing of free-float shares of a company by the promoters.

In a buyback issue, the company pays its shareholders a fixed value per share and re-absorbs that portion of its ownership that was previously distributed among public and private investors.

Source:-https://www.moneycontrol.com/news/business/stocks/aarti-drugs-share-price-gains-6-on-share-buyback-plan-6651301.html

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