Star Cement climbs 4% after approval to share buyback

The cement maker also fixed July 5 as the record date for determining the members of the company who are eligible to participate in the buyback offer

Star Cement shares rallied 4 percent intraday on June 24 after the board approved the proposal for a share buyback.


The stock was quoting at Rs 122.80, up to Rs 1.30, or 1.07 percent on the BSE at 1331 hours IST.

The company, on June 21, said it approved a proposal to buy back up to 68 lakh shares at a price of Rs 150 per share, for an aggregate consideration not exceeding Rs 102 crore.

The cement maker also fixed July 5 as the record date for determining the members of the company who are eligible to participate in the buyback offer.

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