Business Daily from THE HINDU group of publications
Tuesday, Jul 25, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 25, 2006 |
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Corporate
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Buyback Natco Pharma plans buyback Our Bureau
Hyderabad , July 24 Natco Pharma Ltd proposes to go in for buy back of its shares. The company will hold a board meeting on July 31 to decide on the issue. According to sources, the company currently has a paid-up equity of Rs 27.17 crore. Following the conversion of the pending foreign currency convertible bonds (FCCBs), its equity would go up to Rs 27.9 crore. Though the company is yet to finalise the size of the buyback and price, sources said the size would be below 10 per cent of its paid-up equity. The scrip is currently hovering at around Rs 90 on the bourses with the 52-week high at Rs 167.70 and the 52-week low at Rs 78.25. On Monday, the scrip gained 4.97 per cent on the BSE to close at Rs 97.15 and was up by 4.9 per cent on the NSE to close at Rs 97.45.
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