According to the information given by the company to the exchange, the board has approved the proposal to buyback a total of Rs 285.6 crores at a price of Rs 2,550 per share.
Pharmaceutical company Ajanta Pharma announced on Monday, its board has approved the buyback of shares. A total of 286 crore shares will be buybacked. The maximum price will be Rs 2,550 per share. After this announcement yesterday, on Tuesday (28 December 2021), its shares saw an increase of six percent. It was seen reaching up to Rs 2,310.
Price of one share in buyback is Rs.2550
According to the information given by the company to the exchange, the board has approved the proposal to buyback a total of Rs 285.6 crore at a price of Rs 2,550 per share. The total maximum amount of Rs 356 crore will be spent on the buyback. In which Rs 286 crore will be the price of shares and Rs 70 crore will be in the form of buyback tax. Under this buyback, a total of 1.29 percent of the company’s shares will be purchased, which is 9.89 percent of the company’s share capital and free reserves. does.
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Ajanta Pharma net profit up 15%
Recently Ajanta Pharma has done good business. In the second quarter, the company has achieved a net profit of 15 percent. Its profit increased to Rs 196 crore during this period. In the second quarter of a year ago (2020), the company had achieved a net profit of Rs 170 crore. The revenue from the operation also increased to Rs 885 crore. Whereas in the second quarter of 2020, this amount was Rs 716 crore.
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