Indian Stock Market News, Information, Tips, Analysis, Reports

ANG Auto Limited has informed the stock exchanges that the board of directors of ANG Auto will meet on November 12, 2007 to consider a share buyback offer through which ANG Auto will buyback the equity shares of the company from the shareholders of ANG Auto upto a maximum of 25% of the paidup capital of the company. As soon as the announcement was made, the share prices of ANG Auto moved up smartly by about 10%. More details on the ANG Auto Buyback offer including the offer price for the share buy-back proposal will be known after the board meeting is over.

Prime Securities Limited has informed the stock exchanges that the board of directors of Prime Securities have fixed the offer price for the Prime Securities Buy Back Offer. The Prime Securities Buy Back Offer Price has been fixed at Rs. 225 per equity share of face value Rs. 10 each. Prime Securities Limited will take the open market purchase route to buyback shares and will purchase shares through both NSE and BSE.

EID Parry India Limited has approved the buyback of shares from the shareholders of EID Parry at a maximum price of Rs. 160 per share of face value Rs. 2 each. The shares of EID Parry did not participate in the strong bull run that the Indian stock markets have been witnessing. This was mainly because the sugar industry in India was not doing well. However, with the announcement of the buyback offer price, the share prices of EID Parry India zoomed up by over 3% today. The record date (effective date) for the buy back offer has not yet been anoounced

Deccan Chronicle holdings limited has fixed the offer price for its share buyback offer. The Deccan Chronicle Buy-Back offer price has been fixed at Rs. 250 per share. This means the maximum price offered to shareholders who participate in the buyback offer and surrender their shares will be Rs. 250. This amount will be paid in Cash. Deccan Chronicle holdings limited has allocated a maximum of Rs. 250 crores for the purpose of this hsare buyback offer.

AksharChem India Limited has informed the stock exchanges that the Board of Directors of AksharChem India will meet on October 29, 2007 to consider a share buy-back offer to buyback a portion of the free float equity shares if AksharChem India from the existing shareholders of the company. The buy-back offer price and the record date for the buyback offer has not yet been announced.

EID Parry India Limited has informed the stock exchanges that the board of EID Parry will meet on October 29, 2007 to consider a buyback of shares from the shareholders of EID Parry. More details about the EID Parry Share Buy Back will be available only after the board meeting is over. The Buy Back offer price will be updated here as soon as it is announced.

Deccan Chronicle Holdings Limited has informed the stock exchanges that the board of directors of Deccan Chronicle will consider making a Share Buyback offer in the forthcoming board meeting on October 26, 2007. More details about the DCHL Buyback offer including the record date for the buy back and the swap ratio will be available on 26 Oct,  once the Deccan Chronicle Holdings board meeting is over.

Abbott India Limited, a leading MNC pharma company has informed the stock exchanges today that the board of Abbott India has approved the buy back offer to buyback the shares of Abbott India at Rs. 650 per share. Sometime back the Abbott India share Buy Back offer received the SEBI approval as well. More details about the Abbott India share buyback offer  will be updated as and when they are available.

Hindustan Unilever Limited, formerly known as Hindustan Lever Limited (HLL) announced yetserday that it intends to buyback shares. The Buyback offer proposal will be taken up by the board of HLL in the next board meeting. Hindustan Lever (HLL) has failed to participate in the ensuing bull run and hence the board of HLL probably feels that the stock prices of HLL are highly undervalued and hence the share buyback proposal.

Blue Dart Express has hit its year high today following rumours that the parent company DHL will buyback shares from minority investors and delist Blue Dart Express from the Indian stock exchanges. DHL through its singapore subsidary, DHL Express Singapore holds over 81% stake in Blue Dart Express while indian individual investors hold a 5% stake. The rest is with Institutional Investors.