PVR Inox Ltd.'s stock fell sharply within minutes of the opening bell by 8.20% on the NSE on Monday amid a high trading momentum in the stock.
The shares fell to an intraday low of Rs 1,126.60 apiece. The steep fall comes only days after the company announced a share buyback worth up to Rs 300 crore at Rs 1,450 per share.
The stock pared some losses to trade over 5% lower at Rs 1159 as of 9:35 a.m.
The company said it will buy back up to 20.7 lakh equity shares, representing 4.09% of its total paid-up equity share capital. The Board of directors had fixed Sept. 4, 2026, as the record date for determining the shareholders eligible to participate in the buyback.
PVR Inox said the Board has taken note of the intention of the promoter and members of the promoter group to participate in the buyback.
The company added that the Board or Buyback Committee may, one working day prior to the record date, increase the buyback price and correspondingly reduce the number of shares to be bought back, while keeping the overall buyback size unchanged, in accordance with applicable SEBI regulations.
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