Cosmo First soars 17% in 2 days on company's share buyback plan

Despite the past two days' rally, the stock of Cosmo First has underperformed the market in the past six months by falling nearly 30 per cent

Shares of Cosmo First (formerly Cosmo Films) moved higher by 8 per cent to Rs 814 on the BSE in Tuesday's intra-day trade, soaring 17 per cent in the past two trading days, after the company announced that its board will meet on Thursday, December 1, to consider share buyback proposal.

"The meeting of board of directors of the Company is scheduled to be held on Thursday, December 01, 2022, inter-alia to consider a proposal for buyback of equity shares of the company and other matters necessary/ incidental thereto," Cosmo First said on November 28.

Despite the past