Bayer CropScience Limited on Tuesday, in a BSE filing announced that the board of directors of the company has approved a buyback proposal for purchase by the company of up to 1,020,408 equity shares of Rs 10 each (representing 2.89% of the total equity capital) at a price of Rs 4,900 per equity share, aggregating to approximately Rs 500 crore.
Bayer CropScience Limited was trading at Rs 4784, down by Rs 75.05 or 1.54% as at 14.09 on Tuesday, on the BSE. The stock touched a low of Rs 4720.
Bayer CropScience is a world leader in the areas of crop protection, pest control, seeds and plant biotechnology. The company offers comprehensive solutions for modern, sustainable agriculture and non-agricultural applications. The company operates in the area of Crop Protection, Environmental Science and BioScience.
Stock view –
Bayer CropScience Ltd is currently trading at Rs 4775.4, down by Rs 83.65 or 1.72% from its previous closing of Rs 4859.05 on the BSE.
The scrip opened at Rs 4907 and has touched a high and low of Rs 4915 and Rs 4720 respectively. So far 24985(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 17178.69 crore.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 5050 on 02-Jun-2017 and a 52 week low of Rs 3680.15 on 21-Nov-2016. Last one week high and low of the scrip stood at Rs 5050 and Rs 4365.95 respectively.
The promoters holding in the company stood at 68.58 % while Institutions and Non-Institutions held 20.18 % and 11.24 % respectively.
The stock is currently trading above its 50 DMA.
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