The board of Triveni Turbine on Thursday approved a proposal for buyback at ₹150 a share for an aggregate amount not exceeding ₹100 crore, it said in a release to the exchanges. The buyback will be on proportionate basis and the resultant equity shares to be bought back with the maximum price is 66.66 lakh shares.
The board of directors also noted the intention of the promoters to participate in the proposed buyback. Shares of Triveni Turbine closed at ₹102.90, up 1.03 per cent, on the BSE.
Separately, the board of Oriental Carbon & Chemicals on Thursday approved a ₹35-crore buyback. It plans to buy back 3.04 lakh shares (assuming at maximum price) at a maximum price of ₹1,150 a share. Shares of Oriental Carbon closed 0.40 per cent higher at ₹1,056.85 on the BSE.