Stock market today: Atul Ltd buyback: The board of directors of the integrated chemical company is going to consider and approve proposal for buyback of shares. The board meeting of the company is scheduled today. The first private sector company of India inaugurated by its first Prime Minister has already informed Indian stock market exchanges about the board meeting.
Atul Ltd buyback details
The chemical company informed Indian exchanges about the buyback of shares citing, “Pursuant to Regulation 29(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please note that the meeting of the Board of Directors of the Company will be held on Tuesday, November 07, 2023, to consider a proposal for Buy-back of equity shares of face value of ₹10/- each of the Company.”
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In this board meeting, stock market investors and Atul Ltd shareholders are expecting announcement of buyback price as well.
Atul Ltd reward record
This is not the first time when this integarated chemical company is rewarding its shareholders from its capital reserves. As per teh information available on BSE website, Atul Ltd traded ex-dividend on 14th July 2023 for payment of ₹25 per share to its eligible shareholders. Prior to that it had traded ex-dividend 2nd November 2022 for finalising the list of eligible shareholders for payment of ₹7.50 per share special dividend. The chemical company has been continuously giving dividend to its shareholders since 2007.
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If the company board declares buyback of shares in its board meeting today, this will be its first ever buyck bid.
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Atul Ltd shares today witnessed selling pressure in early morning session. Atul Ltd share price today opened downside and went further down and hit intraday low of ₹6,500 apiece on NSE, logging around 3 per cent loss against the close price of ₹6,708.70 apiece on Monday.
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Updated: 07 Nov 2023, 11:21 AM IST