Kwality down 5% as board defers proposed share buyback and bonus issue plan

The stock is locked in lower circuit of 5% at Rs 20.65, falling 75% in past three months, as compared to 5% rise in the S&P BSE Sensex.

Shares of Kwality hit an over four-year low, locking in the lower circuit of 5% at Rs 20.65 per share on the BSE, after the company said its board has deferred the proposed share buyback and bonus issue. The stock of dairy products company was trading at its lowest level since October 8, 2013.

Till 10:41 am; a combined 260,000 equity shares were changed hands and there were pending sell orders for 1.6 million shares on the BSE and NSE.

“The proposed issues relating to buyback of securities and/or bonus issue of securities and payment of interim dividend