UPL is trading higher by 1% at Rs 191 after the company announced the buyback of its own equity shares from the public shareholders.
The stock opened at Rs 192 and touched high of Rs 194, its highest level since December 2010, on the BSE. A combined 983,300 shares have changed hands on the counter till noon deals on the BSE and NSE.
The board of directors of the company will meet on December 30, 2013, to consider and approve a proposal for buy-back of the company’s equity shares, UPL said in a regulatory filing.
Currently, the promoters have 28.86% stake in the company engaged in agrochemicals business. Foreign institutional investors held 39.77% holding, domestic institutional investors 12.26% stake, while the remaining 19.11% holdings are with the individual public shareholders and others.
The stock opened at Rs 192 and touched high of Rs 194, its highest level since December 2010, on the BSE. A combined 983,300 shares have changed hands on the counter till noon deals on the BSE and NSE.
The board of directors of the company will meet on December 30, 2013, to consider and approve a proposal for buy-back of the company’s equity shares, UPL said in a regulatory filing.
Currently, the promoters have 28.86% stake in the company engaged in agrochemicals business. Foreign institutional investors held 39.77% holding, domestic institutional investors 12.26% stake, while the remaining 19.11% holdings are with the individual public shareholders and others.
