Paushak locked 5% upper circuit as board approves share buyback proposal

The stock locked in upper circuit of 5% at Rs 1,480, also its record high on BSE, after the company's board approved the share buyback proposal at price Rs 1,700 per share through tender offer

Paushak was locked in upper circuit of 5% at Rs 1,480, also its record high on BSE, after the company’s board approved the share buyback proposal at price Rs 1,700 per share through tender offer. The buyback price is 21% higher against Tuesday’s closing price of Rs 1,409 on BSE.

“The board of directors approved the proposal for buy-back of 0.12 million equity shares of the Company (representing up to 3.90% of the total paid-up equity share capital of the Company) at a price not exceeding Rs 1700 per share payable in cash for a total consideration not exceeding