Shares of Akzo Nobel India Ltd flared up by more than 10 per cent on the BSE after the company announced that its board of directors would evaluate the possibility of share buyback on February 14.
On the BSE, the share was quoting at Rs 903.05, up by Rs 87.80 or 10.77 per cent.
The company said that the board meeting on February 14, apart from considering the quarterly results, will evaluate the possibility of a share buyback proposal from minority shareholders for implementation at the earliest opportunity and examine a proposal for review of the royalty arrangement with Akzo Nobel NV.