Amidst Board Meeting, Aarti Pharmaceuticals Sees 10% Rise

Surge in Stock Value Sparks Anticipation

Shares of Aarti Drugs Limited, a pharmaceutical company, saw a notable surge in their stock value on Tuesday. The rise in value is attributed to an upcoming board meeting, wherein a share buyback is set to be considered.

Buyback Proposal Drives Investment

The company's stock saw an intra-day increase of 6% on the Bombay Stock Exchange (BSE), reaching Rs 708. Aarti Drugs attributed this rise to the announcement of the upcoming board meeting, intended to discuss the possibility of share buybacks.

Previously, upon the board's approval of a share buyback at Rs 900 per share, the company's stock had witnessed a substantial surge of 1630.

Buyback Details

The board of Aarti Drugs has proposed a buyback of up to 600,000 fully paid-up equity shares, with a face value of Rs 10 each. This represents approximately 0.64% of the company's existing shares.

Under the buyback scheme, shareholders holding equity shares of the company will have the option to sell their shares and receive cash in return, or to retain their shares.