Asahi Songwon Colors, which had closed yesterday at Rs.222.25, rose today to an intraday high at Rs.231.35, rising over 4%. Its 52-week stands at Rs.256.
The stock price has soared after the company stated that it plans to buyback up to 2.45 lakh shares or 2% of the public shares.
The buyback, through the tender process is happening at a price of Rs.330, which is a significant premium to the current price.
It has set 20th Nov as the record date.