Claris Lifesciences has surged 4.4% to Rs 207 in early morning deals on the BSE after the company announced a share buyback proposal.
The board of directors of the pharmaceutical company will meet on January 07, 2014, to consider, a proposal for buy back of the equity shares of the company, Claris Lifesciences said in regulatory filing.
The board will also consider an interim dividend subject to applicable laws, it added.
Currently, the promoters held 60.21% stake in the company. Foreign institutional investors held 14.77%, followed by domestic institutional investors (11.42%), while the remaining 13.60% stakes are with the individual shareholders and others.
The stock opened at Rs 205 and touched high of Rs 210 so far. Around 145,000 shares have already changed hands on the counter till 0920 hours against an average 70,000 shares that were traded daily in past two weeks on the BSE.
The board of directors of the pharmaceutical company will meet on January 07, 2014, to consider, a proposal for buy back of the equity shares of the company, Claris Lifesciences said in regulatory filing.
The board will also consider an interim dividend subject to applicable laws, it added.
Currently, the promoters held 60.21% stake in the company. Foreign institutional investors held 14.77%, followed by domestic institutional investors (11.42%), while the remaining 13.60% stakes are with the individual shareholders and others.
The stock opened at Rs 205 and touched high of Rs 210 so far. Around 145,000 shares have already changed hands on the counter till 0920 hours against an average 70,000 shares that were traded daily in past two weeks on the BSE.
