Orbit Exports touches 52-week high ahead of board meeting for buyback
Shares of Orbit Exports touched 52-week high of Rs 190, rising nearly 5 percent in the early trade on Friday as company s going to consider buyback of its equity shares.
The meeting of board of directors of the company is scheduled to be held on January 05, 2018 to consider and approve the proposal for buy-back of fully paid-up equity shares of the company.
The board will also consider the quantum & mode of buy-back and any other matters incidental thereto in accordance with the provisions of Sections 68, 69 and 70 and other applicable provisions, if any, of the Companies Act, 2013 and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 as amended.
For prevention of insider trading, the trading window for dealing or trading in securities of the company will remain closed for all directors, officers, designated persons and insiders from January 03 to January 07, 2018.
The promoters currently holding 61.75 percent stake in the company.
At 09:36 hrs Orbit Exports was quoting at Rs 187.25, up Rs 6.05, or 3.34 percent on the BSE.
Posted by Rakesh Patil