Dalmia Bharat on Saturday (21 March) mentioned its board has accepted a proposal to purchase again shares price as much as Rs 500 crore.
The corporate mentioned it intends to purchase no more than 71,42,857 shares at a most value of Rs 700 per share.
The utmost buyback measurement represents 6.7% and 5% of the mixture of the overall paid-up capital and free reserves of the corporate primarily based on the audited standalone and consolidated monetary statements of the corporate as at 31 March 2019, respectively. The announcement was made on Saturday, 21 March 2020.
Dalmia Bharat’s consolidated web revenue slipped 14.3% to Rs 24 crore on a 11.7% improve in web gross sales to Rs 2,418 crore in Q3 December 2019 over Q3 December 2018.
Dalmia Bharat is a cement manufacturing firm primarily based in India. Its segments embody cement, refractory and energy. The agency’s merchandise embody Portland Slag Cement (PSC), Portland Pozzolana Cement (PPC) and Portland Composite Cement (PCC).
Shares of Dalmia Bharat was locked in 20% decrease circuit at Rs 409.
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