/ Apar Industries Announces Share Buyback ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 6 January 2017

Directors of Apar Industries on January 6, 2017 approved Buyback of upto 4,50,000 fully paid up equity shares of face vale Rs 10 each, representing upto 1.17% of the outstanding equity shares of the Company at a price of Rs 660 per equity share, amounting upto Rs 29.7 crore, which is 4.09% of the fully paid up share capital and free reserves.

The board of directors have determined the record date for the proposed Buyback to be January 20, 2017. Following this event,  the stock has gone down by 4.5%. Headquartered in Mumbai, Apar Industries is the largest producer of Powerline Aluminum and Alloy Conductors in Asia, having a strategic partnership and supply relationships with top EPC contractors in the world.

The aluminum conductor division manufactures all types of bare overhead aluminum conductors and GS earth wires. It started manufacturing new generation conductors called High Temperature Low Sag (HTLS) with product approvals from Power Grid Corporation of India Limited.
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