Excel Industries jump over 12% on shares buyback nod

By: | Updated: March 29, 2016 4:29 PM

Excel Industries share price surged over 12 per cent on Tuesday after the company approved buyback of shares at Rs 275 per share for up to Rs 18 crore.

BSE Sensex, NSE Nifty, excel industries shares buybackExcel Industries share price surged over 12 per cent on Tuesday after the company approved buyback of shares at Rs 275 per share for up to Rs 18 crore. (Photo: Reuters)rie

Excel Industries share price surged over 12 per cent on Tuesday after the company approved buyback of shares at Rs 275 per share for up to Rs 18 crore. The scrip closed 12.33 per cent up at Rs 226.

Buyback price is around 25 per cent above the Monday’s closing price of Rs 201.20.

On a year-to-date basis, the share price of Excel Industries declined 15.57 per cent till March 28, whereas the BSE Sensex dipped 4.57 per cent during the same period.

For the quarter ended December 2015, the company reported net profit of Rs 2.11 crore, down 75.21 per cent, against Rs 8.50 crore in the same quarter last year.

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