Chordia Food soars 14% on share buyback plans

Chordia Food Products today soared 14% to Rs 57 after the company announced the buyback of its equity shares.

The board of directors will meet on November 12 to consider the proposal for the buyback, the company said in a filing to the stock exchanges.

The board will also consider unaudited financial results for the quarter ended September 30, 2011, it added.

The stock opened at Rs 53.50 and hit a high of Rs 60 on the Bombay Stock Exchange. About 2,200 shares have changed hands on the counter till 0953 hours, against an average of less than 1,300 shares traded daily in the past two weeks.