The board of pharma company, Ipca Laboratories has approved a buyback of its equity shares of Rs 10 each in the board meeting today. The company has earmarked an outlay up to Rs 60 crore representing less than 10 per cent of the company's paid-up equity share capital and free resources at a maximum price of not over Rs 600 a share.
Shares of the company were trading at Rs 440 a share, up 10 per cent from its price yesterday at 1.30 pm.