FDC hits 52-week high as board approves buyback; strong Q3 results

The stock hit a 52-week high of Rs 280, up 10%, extending its previous days 6% surge, after the board approved buyback proposal at a price of Rs 350 per equity share through tender offer.

FDC hits a 52-week high of Rs 280, up 10% on BSE in early morning trade, extending its previous days 6% surge, after the company said that its board has approved the buyback proposal at a price of Rs 350 per equity share through tender offer.

“The board approved the buyback of 3.43 million equity shares of the Company at a price of Rs 350 per equity share for an aggregate amount not exceeding Rs 1,200 million from the equity shareholders of the Company on a proportionate basis through the "Tender Offer" route,” FDC said in a regulatory filing.