JBF Industries buyback begins, buys 4 lakh shares on Sept 6

Written By Unknown on Sabtu, 07 September 2013 | 16.03

Moneycontrol Bureau

JBF Industries bought more than Rs 3.6 crore worth of equity shares in the company in last couple of hours of trade Friday.

The company purchased its 3,99,800 shares or 0.55 percent of total paid up equity at Rs 91.59 apiece on the Bombay Stock Exchange, which is a part of buyback offer that opened on September 4.

The textile company on August 21 decided to buyback its equity shares of aggregate amount of Rs 73.5 crore (10 percent of total paid up equity capital and free reserves as on March 31, 2013) at a price of upto Rs 105 a share.

The last date for buyback will be March 03, 2014 - i.e. within 6 months from the date of opening.

Promoters hold 48.6 percent stake in the company as of June 2013.

The stock closed at Rs 94.15, up 2.90 percent from previous close after hitting an intraday high of Rs 96.85 and low of Rs 90.50. Market capitalisation of the company currently stands at Rs 684.61 crore.

The trading volume of shares started rising around 2 pm, which jumped more than four times to 4,48,271 shares as compared to its five-day average of 1,03,116 shares.



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