JBF Industries is currently trading at Rs. 93.65, up by 8.30 points or 9.72% from its previous closing of Rs. 85.35 on the BSE.
The scrip opened at Rs. 87.00 and has touched a high and low of Rs. 95.00 and Rs. 86.90 respectively. So far 1,83,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 151.70 on 04-Oct-2012 and a 52 week low of Rs. 82.00 on 20-Aug-2013.
Last one week high and low of the scrip stood at Rs. 87.50 and Rs. 82.00 respectively. The current market cap of the company is Rs. 680 crore.
The promoters holding in the company stood at 48.60% while Institutions and Non-Institutions held 19.43% and 31.96% respectively.
JBF Industries’ board of directors at its meeting held on August 21, 2013, has approved buy-back of equity shares of Rs 10 each of the Company from the existing equity shareholders of the Company other than promoters and the persons who are in control of the Company at price not exceeding Rs. 105 per equity share. The maximum buy-back size shall not exceed the aggregate amount of Rs. 73.50 crore that is within 10% of the total paid-up equity share capital and free reserves of the Company as on March 31, 2013.
The buy-back will be through the methodology of ‘Open Market Purchases through Stock Exchanges’ prescribed under SEBI (Buy Back of Securities) Regulations, 1998.
JBF Industries is engaged in the manufacturing of polyester chips, partially oriented yarn and polyester processed yarn/specialty yarn at its plants at Silvasa in the Union Territory of Dadra and Nagar Haveli and at Valsad (Gujarat). The company is one of the leading names in Polyester business in India.
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