What to watch: FDC shares to turn ex-date for buyback

Shares of FDC will turn ex-date on Monday for the proposed buyback. The board had earlier approved the buyback of 34.3 lakh shares of the company at ₹350 a share for an aggregate amount not exceeding ₹120 crore. As the buyback would be on proportionate basis through the tender offer route, investors wishing to participate in the buyback offer need to own FDC shares by Friday. Shares of FDC on Thursday closed at ₹285, much lower than the offer price.