Lovable Lingerie Ltd
was trading higher by more than 11% during the early trading session on Friday on the back of company’s buyback plans. The stock was trading at Rs 250.9 per share, up by Rs 25.8 per share or 11.46% as of 1030 hours on Friday.
The company has informed BSE that the meeting of its board of directors is scheduled to be held on October 6, 2017, inter alia, to consider the proposal for buyback of equity shares of the company.
The company is engaged in the manufacture of readymade garments. It is in hosiery garment products. The stock of the company has lost around 16% in the past one year. The company is virtually debt-free. It has been maintaining a healthy dividend payout of 45.67%.
Meanwhile, Nifty was trading tad above the 9,800 mark during the morning trade. The index is off from its day’s high at 9,807 level while Sensex was trading higher by 122 points at 31,405 level. India VIX index was trading down by 6.39% at 12.33 mark.