Godrej Industries spurted 18.06 per cent to Rs 104.9 on its buyback plan. The company intends to buy back a minimum of 5.7 lakh shares (Re 1 each), amounting to a 9.9 per cent stake at a share price not exceeding Rs 275.
The buyback opens on May 18 and closes on July 28, 2009. The stock opened at the lowest point of the day at Rs 90.5 and subsequently made an intraday high of Rs 106.6.