The announcement was made on Saturday, 26 May 2012.
Meanwhile, the BSE Sensex was up 130.10 points, or 0.80%, to 16,347.92.
On BSE, 4.03 lakh shares were traded in the counter as against an average daily volume of 30,618 shares in the past one quarter.
The stock hit a high of Rs 92.50 and a low of Rs 84.50 so far during the day. The stock had hit a 52-week low of Rs 75 on 11 May 2012. The stock had hit a 52-week high of Rs 104.25 on 26 May 2011.
The stock had outperformed the market over the past one month until 25 May 2012, rising 5.11% compared with the Sensex's 5.44% fall. The scrip had also outperformed the market in past one quarter, gaining 6.06% as against 9.52% fall in the Sensex.
The mid-cap company has an equity capital of Rs 18.29 crore. Face value per share is Re 1.
FDC said the maximum offer size of the proposed buyback plan is Rs 50 crore. The firm will offer upto Rs 110 per share for buying back shares from the open market. The maximum offer price of Rs 110 per share is 26.87% premium to the ruling market price. The company said it would buy a maximum of 62.50 lakh equity shares and a minimum of 15.62 lakh equity shares through the buyback.
FDC's net profit rose 6.20% to Rs 32.90 crore on 3.85% rise in net sales to Rs 161.75 crore in Q4 March 2012 over Q4 March 2011. The result was announced on Saturday, 26 May 2012.
FDC is a pharmaceutical research and development company, which specializes in the areas of synthetics (basic drugs), nutraceuticals, formulations and biotechnology products.