Vinati Organics’ board approves buyback of shares, scrip shoots up
DSIJ Intelligence / 14 Aug 2017
With the Board of Directors of chemical manufacturer Vinati Organics approving a proposal for buyback of shares, the stock of Vinati Organics increased by 3.63% at Rs 1,009.40 per share on the BSE at 1023 hours in today’s trading session.
With the Board of Directors of chemical manufacturer Vinati Organics approving a proposal for buyback of shares, the stock of Vinati Organics increased by 3.63% at Rs 1,009.40 per share on the BSE at 1023 hours in today’s trading session.
There will be a buyback of up to 2,00,000 equity shares of face value Rs 2 each from all the shareholders of the company on a proportionate basis through the tender offer route. September 1, 2017 has been fixed as the record date for the proposal. The company has a return of equity of 26.19% for three years and on a yearly basis the stock has given 84.77% returns, thereby outperforming the BSE Mid-Cap index.
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