Pharmaceutical firm Alembic today said its board will meet next week to consider the proposal of buy back from open market.
In a filing to the Bombay Stock Exchange, Alembic said its board would meet on November 14 to consider buy back of equity shares.
After the announcement, shares of the company surged 16.5 per cent to touch an intra-day high of Rs 36 during mid-session. It had opened the trade at Rs 30.25.
Shares of Alembic were later trading at Rs 33.55, up 8.58 per cent on the BSE.
