Hindware Ltd (HSIL) created 52-week high on Tuesday at Rs 78 on the Bombay Stock Exchange.
The Kolkata based company announced through its BSE regulatory filing that the board has approved buyback of shares at Rs 105 per share for an aggregate amount of Rs 70 crore via open market operations (OMO).
“Further to our intimation dated 16th September 2020 and in terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company, at its meeting held on 21st September, 2020, has inter-alia approved the proposal for buyback of fully paid up equity shares of face value of Rs2 each from open market through Stock Exchanges NSE & BSE, as prescribed under the Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018 and the Companies Act, 2013 at a maximum buyback price of Rs105 per Equity Share payable in cash for an aggregate amount of Rs70,00,00,000 (hereinafter referred to as the “Maximum Buyback Offer Size”) from the equity shareholders / beneficial owners of the equity shares of the Company (other than the promoters, the promoter group and persons in control of the Company).”
At 11:43, the tap making company, HSIL was trading at Rs 78.80, up by 11. 38% from its previous closing of Rs 70. 75 on the NSE.
On Monday, investors lost 2.3 lakh crore after the Sensex plunged 800 points.
