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Nava Bharat Ventures surges 15% as board to consider buy back proposal

The meeting of the Board of Directors is scheduled on Friday, February 26

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A buyback, also known as a share repurchase, is when a company buys its own outstanding shares to reduce the number of shares available in the open market

SI Reporter Mumbai
Shares of Nava Bharat Ventures surged 15 per cent to Rs 67.30 on the BSE in the intra-day trade on Wednesday after the company announced that its board will consider share buyback proposal on Friday, February 26.

The firm, on Tuesday after market hours, informed the stock exchanges that the meeting of the board of directors will be held on February 26, 2021, to consider the proposal for buyback of equity shares of the Company.

At 09:50 am, the stock was trading 11 per cent higher at Rs 65.20, as compared to a 0.49 per cent rise in the S&P BSE Sensex.

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First Published: Feb 24 2021 | 10:00 AM IST

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