Bayer CropScience jumps on buyback plan

Bayer CropScience jumped 4.92% to Rs 1,738 at 10:23 IST on BSE after the company said its board will consider share buyback on 22 July 2013.

The company made the announcement after market hours on Thursday, 18 July 2013.

Meanwhile, the S&P BSE Sensex was up 95.08 points, or 0.47%, to 20,223.49.

On BSE, 12,036 shares were traded in the counter as against an average daily volume of 5,073 shares in the past one quarter.

The stock hit a high of Rs 1,769 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,705.10 so far during the day. The stock had hit a 52-week low of Rs 765.05 on 25 July 2012.

The stock had outperformed the market over the past one month till 18 July 2013, rising 17.49% compared with the Sensex's 4.71% rise. The scrip had outperformed the market in past one quarter, soaring 49.22% as against Sensex's 5.85% rise.

The mid-cap company has an equity capital of Rs 39.50 crore. Face value per share is Rs 10.

Bayer CropScience said its board will meet on 22 July 2013 to consider a proposal to buyback the company's equity shares. The board will also consider constituting a buyback committee.

Bayer CropScience reported net profit of Rs 71.80 crore in Q4 March 2013 as against net loss of Rs 21.60 crore in Q4 March 2012. Net sales rose 55.68% to Rs 367.40 crore in Q4 March 2013 over Q4 March 2012.

Bayer CropScience is one of the world's leading crop science companies in the areas of crop protection, non-agricultural pest control, seeds and traits. The company offers a range of products and backup for modern, sustainable agriculture and for non-agricultural applications.

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