Bayer CropScience up 5% on share buyback plan

The board will meet on June 6 to consider a proposal for buy back of the company's equity shares.

Bayer CropScience was up 5% to Rs 4,795 on the BSE in noon deals after the agrochemicals company announced a share buyback plan.

“A meeting of the board of directors of the company will be held on June 06, 2017, to consider a proposal for buy back of the company's equity shares, constitution of buyback committee, and appointment of intermediaries in accordance with all applicable provisions of laws,” Bayer CropScience said in a statement.

Buyback is typically used to return free cash flows to shareholders. While a share buyback does not impact a company's business, there is a