L&T turns ex-date for buyback; zooms 4% on raising buyback price to Rs 3200
Shares of Larsen & Toubro (L&T) rallied 4 per cent on the BSE to scale a fresh high of Rs 2,998 in Tuesday’s intra-day trade after the company revised its buyback price upwards from Rs 3,000 to Rs 3,200 per share.
At the same time, maximum no of shares to be bought back has been reduced to about 31.2 million shares from about 33.3 million shares earlier. The revised buyback represents 2.22 per cent of the paid up equity share capital of the company.
Meanwhile, the stock of L&T turned ex-date for buyback today. The company fixed September 12, 2023 as the Record Date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback.
