Triveni Turbine stock price up by more than 3% today

14 Dec 2022 , 12:48 PM

In Wednesday’s intraday session, Triveni Turbine shares rose  more than 3% on the BSE to a new high of Rs 308.45 after the company set the deadline for the proposed tender offer for share buyback. The stock surpassed the Rs 307.15 high it had previously reached on December 9, 2022. The firm has set the record date for assessing eligibility and the names of equity shareholders who will be able to participate in the repurchase as Friday, December 23, 2022, Triveni Turbine stated in an exchange filing.

On November 2, the Triveni Turbine board of directors accepted a proposal to repurchase up to 5.43 million equity shares from the company’s equity shareholders for a sum not to exceed Rs 190 crore through a tender offer on a pro-rata basis.

In comparison to the previous year, the company’s entire consolidated outstanding order book as of September 2022 was Rs 1,137 crore, up 37%. The amount of the export outstanding order book, which made up 43% of the total closing order book and increased by more than 100% over the same time during the previous year to Rs 491 crore.

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