Shares of the agri-chemical firm pared early gains to fall as much as 3 percent intraday, to Rs 4,715, after its board announced a buyback offer.
The company will buy back up to 10 lakh shares at Rs 4,900 each via the tender offer route, according to a statement on the exchanges. The total buyback will be for about Rs 500 crore.
The founder group is also expected to participate in the buyback.
Shares of the drug maker fluctuated between gains and losses after it announced the launch of Bivalirudin for injection in the U.S. market. The drug maker has received U.S. FDA approval for the same.
Shares of the drug maker gain as much as 4 percent after the company said the U.S. FDA has cleared its formulation unit at Baddi.
The company said the drug regulator’s establishment inspection report indicates successful closure of the points raised by the FDA on the inspection carried out between Feb. 21 and March 1.
Shares of the Gautam Adani-led company rose as much as 6.4 percent, the most since April 18, after it said it will proceed with its $16.5 billion Carmichael project in Australia’s Queensland state.
The project was delayed due to uncertainty over a royalty deal with the state and amid protests from local environmental groups.