Aarti Drugs jumps after fixing record date for buyback

Aarti Drugs rose 5.01% to Rs 768.70 at 9:26 IST on BSE after the company fixed 19 January 2018 as record date for buyback of upto 2.75 lakh shares representing upto 1.15% stake at Rs 875 per share.

The announcement was made after market hours yesterday, 8 January 2018.

Meanwhile, the S&P BSE Sensex was up 38.73 points, or 0.11% to 34,391.52.

On the BSE, 25,000 shares were traded in the counter so far, compared with average daily volumes of 12,000 shares in the past two weeks. The stock had hit a high of Rs 784.80 so far during the day, which is also its 52-week high for the counter. The stock had hit a low of Rs 760.05 so far during the day. The stock hit a 52-week low of Rs 456.25 on 24 May 2017.

On a consolidated basis, Aarti Drugs' net profit rose 6.9% to Rs 23.60 crore on 1.3% growth in net sales to Rs 319.27 crore in Q2 September 2017 over Q2 September 2016.

Aarti Drugs is a pharmaceutical company. The company has a strong presence in the anti-diarrhea, anti-inflammatory therapeutic groups. With its manufacturing facilities at Tarapur and Sarigam, the company manufactures vitamins, anti-arthritis, anti-fungal, antibiotics, ACE inhibitors, besides its range in anti-diabetic, anti-cholinergic, sedatives and anti-depressant drugs.

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