Jenburkt Pharmaceuticals board will meet later this week to consider buyback of equity shares.
“A meeting of the board of directors of the company is scheduled to be held on September 9, 2017, inter alia, to consider matters related to buyback of the fully paidup equity shares of the company,” Jenburkt Pharmaceuticals said in a regulatory filing today.
The company, however, did not elaborate on the size of the buyback.
Shares of Jenburkt Pharmaceuticals zoomed over 8 per cent to Rs 453 apiece on BSE after the announcement.
The stock opened weak at Rs 405.45 today against the last close of Rs 415.85. Post the announcement, the company shares touched a day’s high of Rs 466 on te BSE in late morning trade.