Alembic jumps 12 per cent on buyback plan

DALAL STREET SPIKES

Shares of pharma company Alembic surged 12.3 per cent to close at Rs 34.70 a share after the company said that the board would meet on November 14 to consider a buyback proposal. Over 1.5 lakh shares changed hands on the Bombay Stock Exchange today.

The shares touched a high of Rs 36 and a low of Rs 29.5. The company manufactures and markets antibiotics and anti-bacterial, cough and cold remedies, analgesic and anti-inflammatory medications, nutraceuticals and anti-diabetics.