Atul rose 1.90% to Rs 6,495 after the company said its board approved a proposal to buyback shares worth upto Rs 50 crore.
The company proposes to buyback shares at maximum price of Rs 7250 each. The aggregate consideration of the buyback shall not exceed Rs 50 crore. The minimum amount to be utilized for the buyback shall be Rs 25 crore, being 50% of the maximum buyback size.
On a consolidated basis, the company's net profit rose 12.2% to Rs 190.35 crore on a 8.5% decline in net sales to Rs 952.89 crore in Q3 FY21 over Q3 FY20.
Atul is an integrated chemical company. The company operates through two segments: life science chemicals, and performance and other chemicals.
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