Zydus Lifesciences hits a 52-week high, jumps over 4% after firm announces buyback deal

Zydus Lifesciences Share Price: Zydus Lifesciences hit a 52-week high of Rs 809.05 on BSE on Tuesday in the first trading session after the company announced the proposal for buyback of shares.

The stock of the large-cap company was trading higher by 4.09 per cent, or Rs 31.15, at Rs 792.05 at 10:40 am on Tuesday.

The Zydus stock also hit a 52-week high on February 1 and 5, and January 30 and 31. 

Zydus Lifesciences buyback deal

The company announced on Monday that it would consider a proposal for buyback of shares. 

"Please note that the Board of the Company, at its aforesaid meeting, will also consider a proposal for buyback of fully paid-up equity shares of the Company and the matters necessary and incidental thereto, in accordance with the applicable provisions under the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended, and other applicable laws," said the company in a note to bourses on Monday.