Dr Reddys mulls share buyback, board to meet next week

Pharmaceutical major Dr Reddys Laboratories is mulling over shares buyback and its board will decide on the proposal next week.

A meeting of the Board of Directors of the company will be held on February 17, 2016, to consider the buyback of equity shares of the company, Dr Reddys Laboratories said in a BSE filing.

It, however, did not share reasons for such a move nor the details such as quantum of shares that the company is looking to buyback.

As on quarter ending December 2015, the promoters of the company held 25.57 per cent stake in the company with 74.43 per cent with public shareholders.
 

Shares of Dr Reddys Laboratories ended the day at Rs 2,887, up 0.01 per cent from the previous close on BSE.