Emami soars 7% as board to consider share buyback on March 24

Meanwhile, in the past three months, the stock has shed 16 per cent, as against 4 per cent decline in the S&P BSE Sensex.

Shares of Emami were up 7 per cent at Rs 369.45 on the BSE in Wednesday’s intra-day trade after the personal care company announced a buyback plan.

The board of directors of the company is scheduled to meet on Friday, March 24, 2023 to consider a proposal for buyback of fully paid-up equity shares of the company, Emami said in an exchange filing.

The primary objective of a share buyback programme is to arrest the fall in the value of a stock by reducing the supply of the stock, which essentially pushes up the share price through a