Dishman Carbogen falls 9% from day's high despite nod for share buyback

Shares of Dishman Carbogen Amcis were locked in 5 per cent lower circuit at Rs 84.30 on the BSE on Friday despite board approval's for a share buyback at a price not exceeding Rs 150 per share. The stock of pharmaceuticals slipped 9 per cent from its intra-day high level of Rs 92.40 on the BSE.

“The board approved the buy-back of equity shares by the Company from open market through stock exchange mechanism for amount not exceeding Rs 72 crore at a price not exceeding Rs 150 per share,” Dishman Carbogen Amcis said in an exchange filing.