Comments
Kwality shares hit 5 per cent lower circuit limit as the board has deferred the share buyback proposal. The company shares fell to Rs 20.55, lowest since October 2013.
The board of directors, at its meeting held on Tuesday, considered the proposed issues relating to buyback of securities and/or bonus issue of securities and payment of interim dividend on merits. Intense deliberations on the issues were initiated with the stakeholders, both internal and external, including investors and lenders.
The matter was intensely debated in the context of current situation and future vision, and the board finally concluded to defer the decision on the issues, for the time-being.
Kwality stock had fallen nearly 81 per cent this year as of last close.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.