Orbit Exports hit a new 52-week high today at Rs.190, surging 5% over yesterday’s close, with some 3.5 times rise in volumes.

Today is the day when the Board will announce the quantum and price of the buyback. And the current price is typical behavior before any buyback price is announced.

The company had announced on 2nd Jan that its Board would be meeting on 5th Jan to consider the proposal for buy-back of fully paid-up Equity Shares of the Company, quantum & mode of buy-back.

The promoters currently have a 61.75% stake.