BackNatco Pharma to consider buyback of shares next week. Details here
Natco Pharma Ltd has informed Indian bourses that its board of directors are going to consider bonus shares in upcoming meeting scheduled on 8th March 2023
PremiumBuyback of shares: Natco Pharma shares have remained sideways to negative since July 2021. The pharma stock has remained an idea sell on rise stock in last one and half years. However, the stock has given some upside movement after ushering in new year 2023, delivering more than 7 per cent return in last one month. However, the pharma company has announced to consider and approve buyback of shares next week in its upcoming board of directors meeting scheduled on 8th March 2023.
Informing buyback of shares move to Indian stock market exchanges, Natco Pharma Ltd said, "Pursuant to Regulation 29(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that, a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, the 8th day of March 2023, inter alia, to consider a proposal for buyback of fully paid up equity shares of the Company of face value of Rs. 2 each as well as matters related/ incidental thereto, in accordance with the applicable provisions under the Companies Act, 2013 (including the rules and regulations framed thereunder), the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended, and other applicable laws."
Informing about trading window closure, Natco Pharma said, "In terms of Company's Code viz., Natco Pharma Limited’s Code of Practices and Procedures for fair disclosure of Unpublished Price Sensitive Information and Code of Conduct to Regulate, Monitor and Report Trading by Designated Persons, read with Securities and Exchange of Board of India (Prohibition of Insider Trading) Regulations 2015, kindly take note that the trading window for all the trades in the equity shares of the Company by any of the employee(s), designated person(s) and insiders of the Company, including their immediate relative(s), shall remain closed from 3rd day of March 2023 to 10th day of March 2023 (both days inclusive). Trading window will be re-opened on 13th day of March 2023. The same has been informed to the Designated Persons in accordance with the above referred Code of Conduct(s)."
Natco Pharma share price
As mentioned above, Natco Pharma share price has been under sell off stress for last one and half years. But, it has given some upside movement after ushering in new year 2023, signaling to come out of the base building mode. In YTD time this pharma stock has delivered a little over 2 per cent return whereas in last one month it has given more than 7 per cent return. However, in last six months, it has shed over 8 per cent while in last one year, it has corrected more than 35 per cent. The pharma stock has given zero return in last five years as it has logged more than 20 per cent loss in this time horizon.
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