Comments
Shares of Crompton Greaves Ltd vaulted by over 10 per cent, after falling to a new 52-week low, after the company announced that its board would consider a share buyback proposal.
In a statement to the stock exchanges, the company said that the board of directors will decide on the buyback proposal on June 28.
The company’s shares, which fell to a yearly low of Rs 71.70 on the BSE today, bounced back by Rs 7.45 to Rs 81.80, a gain of 10.02 per cent and the trading volume surged to 11.58 lakh shares against the two-week average volume of 2.30 lakh shares.
The stock has so far shed about 50 per cent of its value after touching a high of Rs 141.70 on October 8 last year.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.