Riddhi Siddhi Gluco hits 52-week high on share buyback plan

The board has recommended buyback to 2.37 million equity shares at a maximum price of Rs 450 per equity share through tender offer.

Riddhi Siddhi Gluco Biols has surged 7% to Rs 424, also its 52-week high on BSE, after the company said its board has recommended buyback of equity shares at a price of Rs 450 per share through the tender offer.

The board of directors of the company has recommended buyback to 2.37 million equity shares at a maximum price of Rs 450 per equity share for a total consideration not exceeding Rs 107 crore, Riddhi Siddhi Gluco Biols said in a statement.