Greaves Cotton seems to be back in the reckoning today, opening at an intra day high at Rs.144.80, up over 2%. It remains in the green, up some 1.8% at Rs.144 levels.
The market is happy that there is now a modified share buyback plan, which was earlier released on 2nd May.
The Board has approved to buyback 5.32% of share capital at Rs175 per share aggregating to Rs227.5crore.
In the previous buyback, the proposal was to buyback 5.6% of shares worth Rs240crore.
The buyback price remains the same at Rs.175/share.