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Novartis India Board to consider buyback of equity shares

Novartis India Ltd has announced that the board will also consider a proposal for buyback of the company's equity shares, constitution of buyback committee, and appointment of intermediaries in accordance with all applicable provisions of laws.

May 23, 2016 4:32 IST | India Infoline News Service
With reference to the earlier latter dated May 18, 2016 regarding intimation of the Board Meeting to be held on May 26, 2016, Novartis India Ltd has announced that the Board will also consider a proposal for Buyback of the Company's equity shares, constitution of buyback committee, and appointment of intermediaries in accordance with all applicable provisions of laws.
Novartis India Ltd ended at Rs. 715, up by Rs. 8.5 or 1.2% from its previous closing of Rs. 706.5 on the BSE.
The scrip opened at Rs. 707.05 and touched a high and low of Rs. 718 and Rs. 704 respectively. A total of 2570(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2257.97 crore.
The BSE group 'B' stock of face value Rs. 5 touched a 52 week high of Rs. 982 on 20-Jul-2015 and a 52 week low of Rs. 600 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 741.75 and Rs. 703 respectively.
The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 1.43 % and 23.57 % respectively.
The stock traded above its 200 DMA.

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