 "Clariant Chemicals surges on share buyback plan")
Shares of Clariant Chemicals (India) were surged 14% to Rs 980 on the National Stock Exchange (NSE) after the board of the specialty chemicals manufacturer will consider buyback of equity shares.
“The board of directors of the company is schedule to meet on April 22, 2015 to consider the proposal for buy-back of the equity shares of the company,” Clariant Chemicals said in a statement.
As of March 31, 2015, the promoters held 63.40% stake in the company. Individual shareholders held 24.1%, followed by mutual funds & UTI (4.09%), bodies corporate (3.43%), foreign institutional investors (2.96%) and insurance companies (1.34%).
The stock opened at Rs 1,035 and has seen a combined 69,213 shares changed hands on the counter in first 15 minutes of trading on the NSE and BSE.
“The board of directors of the company is schedule to meet on April 22, 2015 to consider the proposal for buy-back of the equity shares of the company,” Clariant Chemicals said in a statement.
As of March 31, 2015, the promoters held 63.40% stake in the company. Individual shareholders held 24.1%, followed by mutual funds & UTI (4.09%), bodies corporate (3.43%), foreign institutional investors (2.96%) and insurance companies (1.34%).
The stock opened at Rs 1,035 and has seen a combined 69,213 shares changed hands on the counter in first 15 minutes of trading on the NSE and BSE.