Welspun Corp has been rising for the past three sessions in anticipation of the buyback pricing. Yesterday, late evening, the company announced details.
Fixing record date as 5th July, the company plans to buyback 2.89 crore equity share.
The disappointment is over the buyback price, which has bene fixed at Rs.135/share.
This price is at a discount to yesterday’s close of Rs.140, which is why today it opened lower at Rs.135.50.