Dhanuka Agritech share value: Multibagger agrochemicals inventory ends 1% decrease after buyback announcement

Shares of Dhanuka Agritech on Wednesday ended with a lower of near 1% at Rs 723.95 per share. The corporate in its board assembly on Tuesday accredited a Rs 85 crore share buyback plan via tender provide. The worth determined for the repurchase is Rs 850 per share.

“The board of administrators of

Restricted at its assembly held on November 01, 2022, has inter-alia accredited the proposal to buyback its personal absolutely paid up Fairness Shares having Face Worth of Rs. 2/- every (‘Fairness Shares’) from the fairness shareholders as on File Date, for upto 10,00,000 absolutely paid up Fairness Shares (being 2.15 % of the entire paid up Fairness Share Capital of the Firm) at a value of Rs. 850/-per share for an mixture quantity not exceeding Rs. 85 crore solely, (being lower than 10% of the Paid Up Capital and Free Reserves as on March 31, 2022) on a proportionate foundation via the “Tender Supply” route as per SEBI Buyback Rules and the Corporations Act, 2013,” mentioned the corporate’s submitting with the change.

The corporate has fastened November 18 because the report date.

Shares of Dhanuka Agritech have yielded multibagger returns of 144% within the final 3 years, whereas on a year-to-date foundation, it has yielded detrimental a return of over 12%.

Dhanuka Agritech, with a market capitalization of round Rs 3,400 crore, is among the many nation’s main agro-chemical firms and is listed by Forbes Journal within the class of “200 Greatest underneath A Billion Corporations in Asia Pacific”.

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