PVR Inox shares jump 4% to new 52-week high as board mulls first ever share buyback on Aug 31. Here’s what we know so far
PVR Inox shares rallied over 4% after announcing its board will consider the multiplex operator’s first-ever share buyback on August 31. The stock touched a fresh 52-week high, gaining strongly in recent weeks. Investors will watch the buyback price, route, record date and promoter participation for further cues.
PVR Inox shares surged over 4% on Tuesday following news that the board will meet on August 31 to discuss the company's first-ever share buyback. The stock reached a new 52-week high of Rs 1,231.80 per share. The board meeting is set to approve a proposal for the repurchase of equity shares with a face value of Rs 10 each. The record date for determining eligible shareholders has yet to be announced, and the method of buyback (tender or open market) is also yet to be disclosed.
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