Upcoming Share Buybacks: Four Companies Set Ex-Record Dates
Buyback alert! 4 stocks turning ex-record dates for share buybacks in next two weeks. Check details
The Economic Times
Image: The Economic Times
Four companies, including Onward Technologies, Garware Technical Fibres, CMS Info Systems, and CyberTech Systems, are set to initiate share buybacks in the coming weeks. Each company has announced specific ex-record dates and buyback prices, with premiums ranging from 8% to over 23% above previous closing prices.
- 01Onward Technologies will buy back 5.49 lakh shares at ₹328 each, with a record date of May 18.
- 02Garware Technical Fibres plans to repurchase over 16.17 lakh shares at ₹680 each, with a record date of May 20.
- 03CMS Info Systems aims to buy back 49 lakh shares at ₹340 each, with a record date of May 22.
- 04CyberTech Systems will repurchase 8.5 lakh shares at ₹170 each, with a record date of May 29.
- 05The buybacks are being conducted through the tender route and involve significant premiums over previous closing prices.
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In the upcoming weeks, four companies will execute share buybacks, each with specific ex-record dates and buyback prices. Onward Technologies, a software outsourcing firm, has approved a buyback of 5.49 lakh shares at ₹328 per share, marking a 21% premium over the last closing price. The record date for eligibility is set for May 18. Garware Technical Fibres, known for fishing nets, will repurchase over 16.17 lakh shares at ₹680 each, with a record date of May 20, reflecting an 8% premium. CMS Info Systems plans to buy back 49 lakh shares at ₹340 each, with a record date of May 22, indicating a 12% premium. Finally, CyberTech Systems is set to repurchase 8.5 lakh shares at ₹170 each, with a record date of May 29, representing a 23% premium. These buybacks are part of the companies' strategies to enhance shareholder value.
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These buybacks may increase shareholder value and provide an opportunity for investors to sell their shares at a premium.
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