Praj Ind soars 10% on share buyback plans

Praj Industries has soared 10% to Rs 84.50 on announcing share buyback plans.

“The board of directors of the company will meet on Saturday, December 03, 2011, to consider the buyback of its outstanding equity shares of face value of Rs 2 each,” the construction and engineering company said in a filing to the stock exchanges.

A combined 214,801 shares have changed hands on the counter in opening deals on the NSE and BSE.