Ajanta Pharma, yesterday after market hours, announced buyback of Rs.136 crore worth of shares.

It plans to buyback 7.35 lakh shares or 0.84% stake at Rs.1850/share, which a 15% premium to yesterday’s close of Rs.1609.35.

The buyback will be through a tender offer route and the promoter members also plan to participate in this proposed buyback.

13^th Nov will be the Record Date.

The company yesterday also declared an interim dividend of Rs. 9.50/share of face value of Rs. 2 each for the financial year 2020-21.

The stock price, in the opening bell session rose 4.5% to Rs.1665.45 but this initial euphoria has fizzled out and the stock is now just about holding on to the green, less than 1% up.