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“A meeting of board of directors of the Company is scheduled to be held on Monday, 8th January, 2018, to consider inter alia, proposal of buyback of the fully paid-up equity shares of the Company including matters related/incidental thereto,” Aarti Drugs said in a regulatory filing.
As of September 2017, the promoters held 62.49% stake in pharmaceutical company. Individual shareholders have 28.49% holding, while mutual funds held 3.68% stake in the company, the shareholding pattern data shows.
In past one year, the stock had underperformed the market by gaining 4%, as compared to 27% rise in the Nifty 50 index.
At 09:30 AM; the stock was up 5% at Rs 667 on the NSE, against 0.19% gain in the benchmark index. A combined 29,894 shares changed hands on the counter on the NSE and BSE.