Insecticides (India) Limited board approves buyback through open market purchase

The Board of Directors of Insecticides (India) Limited has approved the buyback of the fully paid-up equity shares of the face value of Rs. 10/- (Rupees Ten only) each ('Equity Shares') of the Company from its shareholders / beneficial owners excluding promoters, promoter group and persons who are in control of the Company, via the 'open market' route through the stock exchange mechanism i.e. using the electronic trading facilities of the stock exchanges where the Equity shares of the Company are listed, for an aggregate amount not exceeding Rs. 60 Crore (Rupees Sixty Crore only) ('Maximum Buyback Size'), and at a price not exceeding Rs. 575/- (Rupees Five Hundred and Seventy Five only) per Equity Share ('Maximum Buyback Price').

Shares of INSECTICIDES (INDIA) LTD. was last trading in BSE at Rs.473.45 as compared to the previous close of Rs. 486.25. The total number of shares traded during the day was 26791 in over 1863 trades.

The stock hit an intraday high of Rs. 508 and intraday low of 458. The net turnover during the day was Rs. 13060423.

Source : Equity Bulls

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