Aarti Industries hits 52-week high as board approves share buyback

The stock hit 52-week high of Rs 1,130, up 8% on the BSE in early morning trade after the company said that its board approved the share buyback at price of Rs 1,200 per share through tender offer.

Aarti Industries hit 52-week high of Rs 1,130, up 8% on the BSE in early morning trade after the company said that its board approved the share buyback at price of Rs 1,200 per share through tender offer.

Aarti Industries will buyback up to 820,383 shares of the company representing up to 1% of the total number of equity shares of the company. The buy-back price per equity share is Rs 1,200, payable in cash, for an aggregate buy-back size amount of Rs 98.45 crore.

The board of directors have determined January 5, 2018 as the record date