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Shares of UPL (formerly United Phosphorus) may hog the limelight, as the company's board is meeting on December 30 to consider buyback of shares. It can buy-back shares up to 10 per cent of net worth without getting shareholders’ approval. It had net worth of about Rs 492 crore at the end of September quarter. Details about the buyback (price and size) would be finalised in the board. In earlier buyback plan that ended on December 2012, the company had bought back 1.92 crore shares at an average price of Rs 116.4. The stock on Friday closed at Rs 193.25.
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