Zydus Life gains 5% on ₹1,100 crore buyback approval
Zydus Lifesciences shares rose over 5% following a ₹1,100 crore buyback approval and strong Q4 results, with net profit at ₹1,272.5 crore, up 8.7% YoY. The buyback price is set at ₹1,150 per share, a 16% premium to the previous close.
after close1 source ↓written by the desknot a recommendation
- after the company
- 5%
- share buyback plan
- ₹1,100 crore
- shares
- 95.65 lakh
- each
- ₹1,150
- net profit
- ₹1,272.5 crore
Shares of Zydus Lifesciences rose over 5% after the company announced a ₹1,100 crore share buyback plan, approving the repurchase of up to 95.65 lakh shares at ₹1,150 each. Additionally, the firm reported a consolidated net profit of ₹1,272.5 crore, reflecting an 8.7% increase in Q4, surpassing market expectations.
This buyback and strong earnings may enhance investor sentiment and support share prices in the near term.
Not investment advice. For informational purposes only.