Banco Products boards a flight, surges up by 7 per cent

Banco Products will certainly be preparing to board a flight on December 8 as the company is preparing for a buyback. Further clarity on the buyback will come on December 8 as the board will meet to decide the details on the buy back. However, the trading window for directors and insiders (as defined by SEBI Rules) is closed from November 28, 2016 for proposed board meeting. The trading window will be opened 48 hours from then. The shares of the company on the news have surged, and the scrip which previously closed at 182.40 on November 29 has opened at Rs 190 and as at 9.23 am is trading at Rs 195.25, up by 7.04 per cent. The shares could witness significant movement till the outcome of board meeting is clear. The shares of the company in the last three months have fallen by over 8 per cent. On the contrary, in the last six months  the scrip has surged by 47 per cent.