Insecticides India share price spikes 7% as share buyback on the cards

Stocks

The scrip witnessed spurt in volume by more than 1.93 times and was trading with volumes of 7,655 shares, compared to its five day average of 2,665 shares, an increase of 187.20 percent.

Insecticides India has zero promoter pledge and low debt. (Image: insecticidesindia.com)

Insecticides India has zero promoter pledge and low debt. (Image: insecticidesindia.com)

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Insecticides India share price jumped 7 percent intraday on March 23 after the company’s board isĀ all set to consider share buyback on March 30.

A meeting of the Board of Directors of Insecticides (India) Limited is scheduled to be held on March 30 to consider the proposal for buyback of the fully paid-up equity shares of the company of face value of Rs 10 each, as well as matters related incidental thereto, the company said in a exchange filing.

The stock was trading at Rs 475.80, up Rs 31.60, or 7.11 percent at 11:28 hours. It has touched an intraday high of Rs 492 and an intraday low of Rs 440.80.

The scrip also witnessed spurt in volume by more than 1.93 times and was trading with volumes of 7,655 shares, compared to its five day average of 2,665 shares, an increase of 187.20 percent.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, FII / FPI or institutions increasing their shareholding. Insecticides India has zero promoter pledge and low debt.

Moneycontrol technical rating is neutral with moving averages being bearish and technical indicators being being neutral.

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