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Novartis India jumps 11% after share buyback plans

The pharma company 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 24, 2016 10:34 IST | India Infoline News Service
Novartis India jumped 11% to Rs.790 on BSE.  The pharma company 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. 

The scrip opened at Rs. 809 and has touched a high and low of Rs. 818 and Rs. 780 respectively. So far 96,025(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2,272.68 crore.

The BSE group 'B' stock of face value Rs. 5 has 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.

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