Bharat Rasayan opened today 1.5% higher at Rs.10499.90 and went up further by 4% to Rs.10763.30. Its 52-week high is at Rs.11,699.
The company’s Board yesterday approved the proposal for buyback upto 93,472 equity shares of Rs 10 each comprising of 2.20% of the total paid up equity share capital of the company.
The buyback is planned at a price of Rs 11,500 per share for an aggregate amount not exceeding Rs 107.49 crore.
Promoters currently hold 74.79% stake in the company.
Bharat Rasayan serves a wide range of industries like pharma, bulk drugs, R&D, petrochemicals, flavors & fragrances and specialty chemicals.