Balrampur Chini share price hit 52 week high of Rs 138 after the country's second largest sugar making company announced that it was looking to buy back the fully paid up shares not exceeding 1 cr equity shares of Re 1 each for an aggregate amount of up to Rs 175 cr only. This forms 14.7 per cent of the total paid up equity share capital and free reserves of the firm as on March 31, 2016. The firm is planning to buy back the shares at a price of Rs 175 per equity share. A total of 510 Equity shareholders have agreed to this move, however 31 have disagreed.
Promoters of the company hold approximately 40 per cent of the shareholding. The promoters are in favor of the buy back move.
Balrampur Chini share price opened at Rs 133.50 from a previous closing of Rs 130.25. The current market cap of the company is Rs 3191.26 cr.
The stock hit 52 week low of Rs 70.25 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 127.3 and Rs 115.6, respectively.
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