Marksans Pharma skyrockets ~15% ahead of board meeting to consider Buy Back

5 Jul 2022 , 01:31 PM

Marksans Pharma’s counter jumped nearly 15% so far in today’s trade as the company informed investors and exchanges that its board is to consider a proposal for share buyback.

At around 1.27 PM, it was trading at Rs49.60, up by 14.55% against its previous close of Rs43.30 on the National Stock Exchange.

Marksans stated in its filing that, “A meeting of the Board of Directors is scheduled to be held on Friday, 8 July 2022 for considering the proposal for Buy-Back of fully paid-up equity shares of the company.”

Its scrip has given 125% return over a period of 3 years as against 35% return by Nifty SmallCap 100 and 49% by Nifty Pharma for the comparable period.

So far in the day, it touched intraday high and low of Rs51 and Rs47.05 respectively.