Sterlite Tech rises over 19%

about 16 days ago
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Sterlite Technologies has gained after two days of fall. Today it opened 13% higher at Rs.63.45 and went on to hit an intraday high at Rs.75.55, rising over 19%.

The Board today announced a buyback of its shares at Rs.150/share, with a face value of Rs.2/share.

This is a huge premium to yesterday’s close of Rs.63.55.

The buyback is 9.95% of the total paid-up capital.

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