Vardhman Textiles Shares will turn ex-date on Thursday, 8th December 2016, for the proposed buyback. The company plans to buy back 61.3 lakh shares at Rs 1,150 apiece through the tender offer route on proportionate basis.
Since this morning, Vardhman Textiles share price tanked more than 4 per cent to make a day low of Rs 1,057.80 at 9.45 AM. A total of 4,233 shares of the company have exchanged hands on the NSE counter aggregating to a total amount of Rs 45.32 lacs.
The Lower Price Band is 889.70 and the Upper Price Band is 1,334.50.
Earlier in the mid-November, Vardhman Textiles reported an over three-fold rise in its consolidated net profit for the September-end quarter at Rs 454.01 crores, from Rs 137.02 crores in the year-ago period. The total income of the group from operations rose to Rs 1,564.42 crores in the second quarter, from Rs 1,477.79 crores in the same period of the year 2015. Its total expenses, however, increased marginally to Rs 1,269.83 crores during the quarter under review, from the earlier Rs 1,267.26 crores.
The consolidated financial results of Vardhman Textiles include the results of all its subsidiaries, including Vardhman Acrylics, VMT Spinning Co and VTL Investments. These also include the joint ventures of the company and its associates.
Vardhman Group is a textile group based in Ludhiana, Punjab of India. Vardhman Group was established in the year 1965 by Lala Rattan Chand Oswal. The group is engaged in manufacturing as well as trading in Yarn, Greige and Processed Fabric, Sewing Thread, Acrylic fibre and also Alloy steel. Vardhman group was incorporated in the year 1962 as Vardhman Spinning & General Mills (VSGML). The company was promoted by VS Oswal and RC Oswal initially and is now headed by S. P. Oswal. The total number of employees in the company as of April of 2011 is 23000.
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Vardhman Textiles share price is currently trading at Rs 1,071.95 apiece on NSE, down by 3.61 per cent or 40.15 points.
Know the historical share price performance of Vardhman Textiles at Vardhman Textiles share price history.
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