3 companies to consider share buyback today; six cos get nod in a month
The board of directors of three companies, Aarti Drugs, SJVN and Unichem Laboratories will meet today to consider share buyback. LATEST NEWS : The board of directors of three companies, Aarti Drugs, SJVN and Unichem Laboratories will meet today to consider share buyback . The board of directors of six companies – Orbit Exports, Pidilite Industries, eClerx Services, Aarti Industries, Lovable Lingerie and Gandhi Special Tubes – approved buyback plans aggregating nearly Rs 958 crore in the past one month. Most of these companies announced buyback through the tender route, under which repurchases were executed using a fixed price tender offer. While a share buyback does not impact a company’s business, there is a financial impact to the extent that the cash and the number of shares in its books reduce. Since buyback reduces outstanding shares, it boosts EPS (earnings per share) and, therefore, the share price. In tender offer, the company makes an offer to buy a ...