Shares of FDC
were trading 2% higher on Wednesday after the company is a press note to the exchanges informed that its board will meet on May 24 to consider buyback proposal.
"The Board of Directors shall consider the proposal for buyback of fully paid up equity shares of the company through Tender Offer route, up to such amount of the aggregate of company's paid-up equity share capital and free reserves as the board may decide in accordance with SEBI regulation and to fix the record date for the purpose of buyback of equity shares," the company said in a press note after markets hours to the exchanges on Wednesday.
The company’s board will also consider and approve the audited financial results of the company for the quarter and financial year ended March 31, 2019, the company added.
FDC Ltd's share price is currently at Rs184.65, up by Rs4 or 2.21%, from its previous close of Rs180.65 on the BSE.
The scrip opened at Rs185.25 and has touched a high and low of Rs189 and Rs180, respectively. So far, 1,40,521 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs3,150.59cr.