Aarti Industries trades jubilantly on getting nod for share buyback

22 Dec 2017

Aarti Industries is currently trading at Rs. 1098.00, up by 51.60 points or 4.93% from its previous closing of Rs. 1046.40 on the BSE.

The scrip opened at Rs. 1074.90 and has touched a high and low of Rs. 1129.55 and Rs. 1065.00 respectively. So far 12178 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 1129.55 on 22-Dec-2017 and a 52 week low of Rs. 672.00 on 28-Dec-2016.

Last one week high and low of the scrip stood at Rs. 1129.55 and Rs. 905.00 respectively. The current market cap of the company is Rs. 9016.82 crore.

The promoters holding in the company stood at 53.70%, while institutions and non-institutions held 16.62% and 29.69% respectively.

Aarti Industries has received its board’s approval for share buyback at price of Rs 1,200 per share through tender offer. The company will buyback up to 820,383 shares of the company representing up to 1% of the total number of equity shares of the company. The buy-back price per equity share is Rs 1,200, payable in cash, for an aggregate buy-back size amount of Rs 98.45 crore. The board of directors have determined January 5, 2018 as the record date for the proposed buy-back.

The promoter and promoter group including person in control of the company intend to participate in the proposed buyback. As of December 21, 2017, the promoter and promoter group hold 53.63% equity share in the company.

Aarti Industries is one of the most competitive benzene-based speciality chemical companies in the world. It is a rare instance of a global speciality chemicals company that combines process chemistry competence (recipe focus) with scale-up engineering competence (asset utilization).

Related Aarti Industries Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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