Nava Bharat Ventures shares rally on buyback approval
Shares of the company traded over 5% higher at Rs 74.20 after the announcement of the buyback.
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The Board of Nava Bharat Ventures at its meeting held on 26 February 2021 has approved the buyback of equity shares of the company for an aggregate amount of Rs 150 crore at a price not exceeding Rs 100 per share. The indicative maximum number of shares that can be bought back would be 1.50 crore equity shares of Rs 2 each representing 9.18% of the total equity shares of the company.
Shares of the company traded over 5% higher at Rs 74.20 after the announcement of the buyback. On the other hand, the benchmark BSE Sensex traded 1625 points, or 3.18%, at 49,414 at around 1.55 pm (IST).
(With inputs from Capital Market)
Published: February 26, 2021, 14:03 IST