Aarti Drugs extends rally on share buyback proposal; hits 52-week high

The pharmaceutical company's stock has rallied 20 per cent in the past four trading days, as compared to 2 per cent rise in the S&P BSE Sensex

Shares of Aarti Drugs hit a 52-week high of Rs 705, up 5 per cent, on the BSE in intra-day trade on Monday after the company said its board will meet on Friday, March 15 to consider a share buyback proposal.

“The meeting of the board of directors of the company is scheduled to be held on Friday, 15th March, 2019, to consider proposal of buyback of the fully paid-up equity shares of the company including matters related/incidental thereto,” Aarti Drugs said in a regulatory filing.

The pharmaceutical company's stock has rallied 20 per cent in the past four trading