Nitin Fire Protection Industries surges on getting nod to Buy-back equity shares

Nitin Fire Protection Industries Ltd. | Engineering - Industrial Equipments | Capital Goods & Industrial Consumables | BSE: 532854 | NSE: NITINFIRE

13 Aug 2013 Evaluate

Nitin Fire Protection Industries is currently trading at Rs. 56.80, up by 2.80 points or 5.19% from its previous closing of Rs. 54.00 on the BSE.

The scrip opened at Rs. 54.50 and has touched a high and low of Rs. 58.30 and Rs. 53.60 respectively. So far 83,000 shares were traded on the counter.

he BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 83.30 on 13-Nov-2012 and a 52 week low of Rs. 48.50 on 29-Jul-2013.

Last one week high and low of the scrip stood at Rs. 54.85 and Rs. 51.00 respectively. The current market cap of the company is Rs. 1,252 crore.

The promoters holding in the company stood at 71.41% while Institutions and Non-Institutions held 13.54% and 15.05% respectively.

Nitin Fire Protection Industries’ Board of Director at its meeting held on August 13, 2013, has approved the proposal for Buy-back of equity shares of the Company, pursuant to the provisions of the Companies Act, 1956 and the SEBI (Buy-back of Securities) Regulations, 1998 as amended from time to time, not exceeding 10% of total paid-up capital and free reserves as per audited balance sheet as at March 31, 2013.

The buy-back shall be under the 'open market' mechanism through the Stock Exchanges i.e. Bombay Stock Exchange & National Stock Exchange of India, at a price not exceeding Rs. 66.60 per equity share of Rs 2 each and the aggregate buy-back not exceeding 10% of total paid-up capital and free reserves as per audited balance sheet as at March 31, 2013. The public announcement setting out the details of buy-back and other statutory details will be released in due course, inter-alia, in newspapers, in accordance with the Buy-back Regulations, subject to approval of regulatory authority, if any.

Nitin Fire Protection Industries is a leading fire protection, safety, securities and intelligent building management system, high pressure seamless cylinder and refueling systems company in India. It has been operational for the past two decades.

Nitin Fire Protectn Share Price

1.82 0.00 (0.00%)

10-Feb-2022 18:01 View Price Chart

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