Stocks of Jenburkt Pharmaceuticals Ltd on Tuesday announced that the company board will meet later this week to consider buy back of shares. On the flip side of the say, the stock rose its stock up by 8% to Rs 453 per share on BSE after the announcement.
In a regulatory filing Jenburkt Pharmaceuticals said:- ‘A meeting of the Board of Directors of the company is scheduled to be held on Sept 9, 2017, to consider matters for to buyback of the fully paid up equity shares of the company’. However, the size of the buyback has not been elaborated.
Jenburkt Pharma’s stock had opened weak at Rs. 405.45 today versus the last close of Rs 415.85. After the announcement, the shares touched a day’s high of Rs. 466.00 on BSE in late morning trade today.
Stock Market Live: The BSE Sensex is trading at 31,772 up 70 points, while NSE Nifty is being traded at 9,932 up 19 points. A total of 77 stocks clocked a fresh 52-week high in trade as on now, while 11 stocks touched a fresh 52-week low on the NSE.
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