 "ADF Foods gains on share buyback plan")
ADF Foods has rallied 11% to Rs 102 on the BSE in early morning trade after the company announced that its board will meet on Wednesday, July 27, 2016 to consider buy back of equity shares of the company.
“The meeting of the board of directors of the company is convened to be held on Wednesday, July 27, 2016 at Mumbai at 11.00 a.m., inter alia, to consider declaration of interim dividend or buy back of equity shares of the Company or a combination thereof,” ADF Foods said in statement.
The promoters held 52.35% stake in the company engaged in packaged foods business. The retail investors held 32.13% stake, while bodies corporate have 10.6% holding in the company, the shareholding pattern data shows.
Nirmal Arora (3.64%), Lashit Sanghvi (1.52%) and Ashwin Kedia (1.14%) held more than 1% stakes each in ADF Foods, data shows.
At 09:16 AM, the stock was up 9% at Rs 100 on the BSE. The stock is trading near to its 52-week high of Rs 104 touched on December 1, 2015 during intra-day trade. A combined 178,134 shares changed hands on the counter on the BSE and NSE so far.
“The meeting of the board of directors of the company is convened to be held on Wednesday, July 27, 2016 at Mumbai at 11.00 a.m., inter alia, to consider declaration of interim dividend or buy back of equity shares of the Company or a combination thereof,” ADF Foods said in statement.
The promoters held 52.35% stake in the company engaged in packaged foods business. The retail investors held 32.13% stake, while bodies corporate have 10.6% holding in the company, the shareholding pattern data shows.
Nirmal Arora (3.64%), Lashit Sanghvi (1.52%) and Ashwin Kedia (1.14%) held more than 1% stakes each in ADF Foods, data shows.
At 09:16 AM, the stock was up 9% at Rs 100 on the BSE. The stock is trading near to its 52-week high of Rs 104 touched on December 1, 2015 during intra-day trade. A combined 178,134 shares changed hands on the counter on the BSE and NSE so far.