Ajanta Pharma has fixed May 30 as the record date for its buyback of 0.82% of the aggregate paid-up share capital of the company at Rs 2,770 per share. The pharma stock was trading at Rs 2,399.55, up 1% on BSE around 1:30 pm on Monday.
Zydus Lifesciences on Tuesday said its offer to buy back 59.7 lakh shares at Rs 1,005 apiece, aggregating to Rs 600 crore, will open on February 29. The share repurchase programme will close on March 6, 2024, the drug firm said in a regulatory filing.
“It all comes back to the horizon of investing. As long as you are comfortable with the medium- to long-term investment horizon and you are comfortable with the sectors and companies financials, then there is no reason for anybody to kind of look at exit. One should continue to hold on to good quality stocks.”
In May 2021, the Securities and Exchange Board of India imposed penalty on Cairn India for allegedly making misleading public announcements on the buy-back offer.