Zydus Life shares rise 5% on ₹1,100 crore buyback
Zydus Lifesciences shares rose over 5% after announcing a ₹1,100 crore share buyback and reporting a net profit of ₹1,272.5 crore for Q4, surpassing street estimates. The buyback price is set at ₹1,150 per share, a 16% premium to the previous close.
pre-market1 source ↓written by the desknot a recommendation
- following the approval
- 5%
- share buyback
- ₹1,100 crore
- equity shares
- 95.65 lakh
- each
- ₹1,150
- over the previous
- 16% premium
Shares of Zydus Lifesciences gained over 5% following the approval of a ₹1,100 crore share buyback. The buyback will include up to 95.65 lakh equity shares at ₹1,150 each, a 16% premium over the previous closing price. Additionally, the company reported a net profit of ₹1,272.5 crore, exceeding market expectations.
Not investment advice. For informational purposes only.