/ GHCL Announces Buyback Of Rs 80 Crore Equity Shares ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 31 January 2017

GHCL Limited, on January 31, has announced that its board of directors have approved buy back of the company's fully paid-up equity shares, amounting to Rs 10 each from the open market through the stock exchange route. The maximum buyback price has been set at Rs 315 per equity share, excluding transaction costs, for an aggregate amount of Rs 80 crore.

GHCL is a diversified player with presence in chemicals, textiles and consumer products; and is a leading manufacturer of Soda Ash in India, having an annual production capacity of 8,50,000 metric tons, which contributes to almost 29% of the annual domestic requirement.

GHCL Ltd is currently trading at Rs 276.6, down by Rs 8.9 or 3.12% from its previous closing of Rs 285.5 on the BSE. The scrip opened at Rs 286.5 and has touched a high and low of Rs 289.85 and Rs 273.6 respectively. So far 891430(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2855.57 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 298.8 on 20-Oct-2016 and a 52 week low of Rs 95 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 292 and Rs 270.55 respectively.

The promoters holding in the company stood at 18.49 % while Institutions and Non-Institutions held 25.56 % and 55.95 % respectively. The stock is currently trading above its 100 DMA.

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