Aarti Drugs surges 7% on board nod for share buyback

The stock hit a fresh 52-week high of Rs 785, up 7% on BSE in intra-day trade, after the company's board share buyback at a price of Rs 875 per share through tender offer.

Aarti Drugs hit a fresh 52-week high of Rs 785, up 7% on BSE in intra-day trade so far, after the company’s board share buyback at a price of Rs 875 per share through tender offer.

“The board approved a buyback of up to 0.27 million equity shares representing up to 1.5% of total equity of the company at a price of Rs 875 per equity share for an aggregate amount of up to Rs 241 million, on a proportionate basis through the tender offer,” Aarti Drugs said in a statement.

The Board took note of intention of