KRBL shares rise as board discusses dividend, buyback

KRBL share price BSE, KRBL dividend 2023, KRBL buyback news: Rice processing and exporting company KRBL's shares gained as its board was scheduled to meet during the course of the day to consider a final dividend and a share buyback. The company is also slated to report its financial results for the April-June period on Thursday. The stock opened at Rs 404.8 and gained as much as 2.5 per cent to touch the day's high of Rs 408.7 from the previous close of Rs 398.65 on BSE. 

"Board of Directors scheduled to be held on Thursday, 10th August 2023 to approve the Standalone and Consolidated Unaudited Financial Results of the Company for the First Quarter (Q1) ended 30th June 2023, this is to apprise that the Board will inter-alia consider the following proposals also: 1) To Buyback of equity shares of the Company in accordance with the provisions of the Companies Act, 2013 and SEBI (Buy-back of Securities) Regulations 2018; 2) To Consider and recommend a Final Dividend, if any, for the Financial Year ended 31st March 2023 which shall be paid subject to the approval of shareholders in the ensuing Annual General Meeting of the Company,” said KRBL, the world's largest exporter of basmati rice.

KRBL share price history

The stock of KRBL, whose popular brands include India Gate, has rewarded investors with a return of more than 55 per cent in the last 12 month, sharply outperforming a nearly 12 per cent rise in the headline Nifty 50 index.

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