Lovable Lingerie surges on proposal of Buyback
Sanket Dewarkar / 29 Sep 2017
Lovable Lingerie has ballooned by 14 per cent in today’s trade as the management has decided for buy back of its equity shares.
Lovable Lingerie has ballooned by 14 per cent in today’s trade as the management has decided for buy back of its equity shares.
The main idea for the buyback is to limit the fall in the value of the stock by reducing the supply of the stock which ultimately pushes up the share price through a better P/E multiple and also it will improve its earnings per share EPS
In earlier period the stock has underperformed the market by declining 4 per cent as compared to the 17 per cent rise in the S&P BSE sensex.
Currently Company is involved in the business activities of Manufacture of other knitted and crocheted apparel including hosiery. Company's Total Operating Revenue is Rs. 197.41 Cr. and Equity Capital is Rs. 16.80 Cr. for the Year ended 31/03/2017.
On today’s trade the stock has opened at Rs.240 per share and touched as high/low of Rs.258/Rs. 240 and on 1500 hours the stock is quoting at Rs.244 per share.
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