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Shares of Swaraj Engines Ltd surged as much as 16.5 per cent to Rs 2,207, their highest since July 25 as the company said that it will have a board meeting on November 28 to consider a proposal for share buyback.
Details of the buyback were not immediately known.
The stock posted biggest intraday percentage gain since April 26.
Up to Thursday's close, the stock had gained 46.7 per cent this year, outperforming competitors such as Rane Engine Valve Ltd and Omax Autos Ltd which fell 0.4 per cent and 6.4 per cent, respectively.
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