What to watch: Emami to consider buyback proposal today

The board of directors of Emami Ltd will meet on Thursday to consider dividend and buyback proposals. According to media reports, the size of the proposed buyback is likely to be in the range of ₹900-1,000 crore. Promoters currently hold 52.74 per cent stake in the company and 83 per cent of their holding is pledged. The buyback could raise promoter stake to about 58 per cent. Shareholders will monitor the price, size and mode (open market or tender route) of the share buyback.