Goldiam Intl soars 17% as board approves buyback at Rs 1,200 per share

In past nine trading days, the stock has rallied 58 per cent in anticipation of a good price for share buyback, as the earlier proposal was rejected by the shareholders.

Shares of Goldiam International soared 17 per cent to a new high of Rs 1,074 on the BSE in intra-day trades on Monday after the company's board approved buyback of equity shares at price of Rs 1,200 via tender offer. The company is an integrated manufacturer and supplier of impeccable diamond jewellery to leading retailers and wholesalers in the USA and Europe.

“The board of directors of Goldiam International at its meeting held on September 13, 2021 has approved a proposal to buyback up to 380,000 equity shares  of the company for an aggregate amount not exceeding Rs 45.60