Vakrangee up 5% as board approves capital allocation for buyback, dividend

The stock up 5% at Rs 212 after the board approved the current one time capital allocation policy with Rs 13.72 billion to be utilized through share buyback, dividend payout and re-invest in business

Vakrangee is locked in upper circuit for the second straight day, up 5% at Rs 212 on BSE after the company said its board approved the current one time capital allocation policy with Rs 13.72 billion to be utilized through share buyback, dividend payout and re-invest in business.

“Of the total amount of Rs 13.72 billion, Rs 10 billion to be utilized through share buyback, Rs 2.50 billion to be utilized through dividend payout and Rs 1.22 billion to be re-invest in business includes investments in organic business growth, technology and R&D, training infrastructure, brand building initiatives and contingency