Kaveri Seed Company rose 1.72% to Rs 512.15 at 11:28 IST on BSE after the company said that its board will meet on 24 May 2018 to consider a proposal for buyback of equity shares.
The announcement was made after market hours yesterday, 14 May 2018.Meanwhile, the S&P BSE Sensex was up 313.56 points, or 0.88% to 35,870.27.
On the BSE, 16,000 shares were traded in the counter so far compared with average daily volumes of 14,000 shares in the past one quarter. The stock had hit a high of Rs 514.95 and a low of Rs 506.95 so far during the day.
The stock hit a 52-week high of Rs 708.10 on 7 August 2017. The stock hit a 52-week low of Rs 433 on 6 February 2018.
Net profit of Kaveri Seed Company rose 52.96% to Rs 5.43 crore on 4% rise in net sales to Rs 70.64 crore in Q3 December 2017 over Q3 December 2016.
The company's board will consider audited financial results of the company for the quarter and the year ended 31 March 2018 on 24 May 2018.
Kaveri Seed Company is one of the fastest growing seed company in India with a large network of over 15,000 distributors and dealers spread across the country.
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