Balrampur Chini buyback news: Stock alert! Check price, share price NSE

Balrampur Chini Share Buyback News, Price: Balrampur Chini Mills, the country's second largest sugar manufacturing company has announced a share buyback programme at a meeting on Wednesday, November 9-- the day it will declare the second quarter results. The last such corporate action was done on July 2, 2020.

The company approved the buyback of equity shares of the company worth ₹145.4 crore at ₹360 per share.

"Approved buyback of fully paid-up equity shares of face value of Re. 1/- (Rupee One only) each of the Company ("Equity Shares") at a price not exceeding Rs. 360/­
(Rupees Three Hundred Sixty only) per Equity Share ("Maximum Buyback Price") and for an amount not exceeding Rs. 145.44 crores..." the company said in the BSE circular.

The Maximum Buyback Size represents 5.44 % and 5.42 % of the aggregate of the total paid-up equity capital and free reserves of the Company based on the audited standalone and consolidated financial statements of the Company, respectively, for last financial year ended on 31st March 2022, it added.

Balrampur Chini Share Price NSE

The stock of Balrampur Chini Mills Ltd (NSE: BALRAMCHIN) traded gained nearly 2 per cent in early morning deals on Friday.

The company has given a negative yield of around 10 per cent so far this year. The 52-week range is from Rs 525.90- Rs 299.00. The market cap of the company is Rs 6,853 crore.

Balrampur Chini Q2 results

Balrampur Chini Mills reported a consolidated net loss of Rs 28.95 crore in the September 2022 quarter against net profit of ₹83 crore in the corresponding quarter. The company's revenue declined over 8% to Rs 1,113 crore.

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