Business Daily from THE HINDU group of publications
Tuesday, April 8, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Tuesday, April 8, 2008 ePaper | Mobile/PDA Version |
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News Update as at 18.00 hrs (IST)
Corporate JB Chemicals board approves buyback of equity shares MUMBAI: JB Chemicals & Pharmaceuticals Ltd has informed the BSE that the board of directors of the Company at its meeting held on April 8 has approved the buyback of equity shares at a maximum price not exceeding Rs 70 per share and up to an aggregate am ount of Rs 29.52 crore, being within 7.05% of the total paid-up capital and free reserves as per the audited Balance Sheet as at March 31, 2007. The company proposes to buy back shares listed on the BSE and the NSE through open market purchases from time to time. The maximum price is at a premium of 41.27% over the closing price of Rs 49.55 of the company's share on the NSE as on April 7. The average closing price of the Company's share on the BSE for the last six months is Rs 64.
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