Lovable Lingerie spurts on buyback plan

Lovable Lingerie rose 12.13% to Rs 252.40 at 9:20 IST on BSE after the company said its board will consider share buyback proposal on 6 October 2017.

The announcement was made after market hours yesterday, 28 September 2017.

Meanwhile, the S&P BSE Sensex was up 108.87 points, or 0.35% to 31,391.35.

On the BSE, 48,000 shares were traded in the counter so far, compared with average daily volumes of 8,358 shares in the past two weeks. The stock had hit a high of Rs 258 and a low of Rs 240 so far during the day.

Net profit of Lovable Lingerie declined 47.37% to Rs 6.21 crore on 10% decline in net sales to Rs 60.54 crore in Q1 June 2017 over Q1 June 2016.

 

Lovable Lingerie is one of India's leading women's innerwear manufacturers.

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