Divi's weighs share buyback following sharp fall in share price

May use Rs 1,700 cr free cash for the purpose as shares hit 52-week low following US import alert

Divi's Laboratories Limited management on Monday said buy back of shares using the cash reserves could be an option in the light of a sharp fall in the company's share price though its current focus was on the remedial steps at Unit 2, which received an import alert by the US Food and Drug Administration (USFDA) last week.

"Yes, this is an option (that can be looked into)," the company's founder and chairman Murali K Divi said in response to a question on whether Divi's would consider using the free cash, amounting to Rs 1,700 crore, for share buyback as