Alembic gains on share buyback plan

The stock up 7% to Rs 63.20 on BSE in intra-day trade after the pharmaceutical company announced that its board will consider share buyback proposal on Tuesday, January 23, 2018.

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Small shareholders (under the banner of Unifi) are trying to get their nominee appointed to the Alembic board

SI Reporter Mumbai

Last Updated : Jan 19 2018 | 10:32 AM IST

Alembic rallied 7% to Rs 63.20 on BSE in intra-day trade after the pharmaceutical company announced that its board will consider share buyback proposal on Tuesday, January 23, 2018.

“The board of directors of the company also consider and approve, the proposal for buy-back of fully paid-up equity shares of the Company, which would include maximum amount, maximum number of equity shares, mode of buy-back and other matters incidental thereto,” Alembic said in a regulatory filing.

Earlier, on January 12, 2018, the company said that a meeting of the board of directors of the company is scheduled to

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