/ Kaveri Seed Approves Share Buyback Of Rs 200 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 27 March 2017

Kaveri Seed Company, today announced that it has approved the buyback of fully paid-up equity shares of face value Rs 2 each not exceeding 29,62,963 equity shares. They represent 4.29% of the total paid-up equity share capital of the company. 

The buyback will be at a price of Rs 675 per equity share which will be payable in cash for an aggregate amount not exceeding Rs 200 crore. The company in its release also added that Karvy Investor Services Limited has been approved as the manager to the buyback.

The stocks on the NSE is currently trading in red and is down by nearly 3%. The stock has delivered 46.20% returns and has outperformed the BSE Small Cap and BSE FMCG indices over the same time span. Kaveri Seed Company Ltd is currently trading at Rs 547.65, down by Rs 12.2 or 2.18% from its previous closing of Rs 559.85 on the BSE.

The scrip opened at Rs 562.5 and has touched a high and low of Rs 563 and Rs 542.2 respectively. So far 1507703(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3866.05 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 568 on 24-Mar-2017 and a 52 week low of Rs 325.25 on 02-Sep-2016. Last one week high and low of the scrip stood at Rs 568 and Rs 530.1 respectively.

The promoters holding in the company stood at 57.49 % while Institutions and Non-Institutions held 29.39 % and 13.12 % respectively. The stock is currently trading above its 50 DMA.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717