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Shares of Aarti Drugs jumped as much as 5.6 per cent in Thursday's trade as the board meeting will be held next week to consider a share buyback proposal.
“A meeting of board of directors of the company is scheduled to be held on Monday, January 8, 2O18, to consider inter alia, proposal of buyback of the fully paid-up equity shares of the company,” Aarti Drugs said in a BSE filing today.
The company, which manufactures bulk drugs and chemicals, did not elaborate on the size of the shares buyback.
Following a strong open at Rs 717.80 against the previous close of Rs 705.85, the scrip touched an intraday high of Rs 745.40 and a low of Rs 706.25. In terms of equity volume, 0.16 lakh shares exchanged hands on the BSE.
Aarti Industries Ltd is one of the leading manufacturers, suppliers and exporters of benzene based intermediates, speciality chemicals, agrochemicals, bulk drug intermediates, plasticizers and fluoro compounds, dimethyl sulphate etc.
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