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Gandhi Special Tubes stock ends higher post Q4 numbers; Board approves buyback of shares upto Rs42.16cr

Sales rose 95.40% to Rs40.35cr in the quarter ended March 2021 as against Rs20.65cr during the previous quarter ended March 2020.

June 23, 2021 4:39 IST | India Infoline News Service
Shares of Gandhi Special Tubes ended higher after posting a good set of Q4 numbers. The net profit rose 197.91% to Rs12.81cr in the quarter ended March 2021 as against Rs4.30cr during the previous quarter ended March 2020.

Sales rose 95.40% to Rs40.35cr in the quarter ended March 2021 as against Rs20.65cr during the previous quarter ended March 2020.

The board has approved a buyback of up to 7,66,616 equity shares of the company for an aggregate amount not exceeding Rs42.16cr at a maximum buyback price of Rs550 per share.

The stock ended at Rs434.45 up by Rs16.55 or 3.96% from its previous closing of Rs417.90 on the BSE. The scrip opened at Rs430 and touched a high and low of Rs442.05 and Rs413.95 respectively.

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