SKF India gains on share buyback plan

The stock was up 3.5% to Rs 1,408 on the BSE.

SKF India rose over 3% to Rs 1,408 on the BSE in an otherwise volatile market after the company announced a share buyback proposal.

The board of directors of SKF India is scheduled to meet on February 13, 2017 to consider a proposal for buy-back of equity shares of the company.

The board will also consider the unaudited financial results for the third quarter and nine months ended December 31, 2016.

In past six months, the stock had underperformed the market by falling 3% as compared to 0.38% rise in the S&P BSE Sensex till yesterday.