This Mid Cap Specialty Chemicals Firm To Consider Share buyback: Check Details

Atul Ltd., the specialty chemical company, will consider a proposal for Buy-back of equity shares of face value of Rs. 10 each of the company on March 25, 2022.

In an exchange filing dated March 17, 2022, the company announced that the meeting of the Board of Directors of the Company will be held on Friday, March 25, 2022, inter alia, to consider a proposal for Buy-back of Equity Shares of face value of Rs. 10/- each of the Company.Further, in terms of the Company's Code of Conduct for Prohibition of Insider Trading, the trading window for dealing in securities of the Company will remain closed from March 18, 2022 to March 27, 2022 (both days inclusive).

Share buyback also known as share repurchase is when a company buys its own outstanding shares to reduce the number of shares available on the open market. There are 'n' number of reasons for which the company may consider a share buyback including increasing the value of remaining shares available by reducing the supply or to prevent other shareholders from taking a controlling stake.

Atul Ltd., operates via 6 business segments, namely, Agrochemicals, Aromatics, Bulk Chemicals & Intermediates, Colors, Pharmaceuticals & Intermediates and Polymers. The company is the global leader in an anti-bacterial drug called Dapsone. The company is also engaged in the business of performance and other chemcials and life science chemicals.

Over a 1-year period, the stock of Atul has gained 43.46%, while its YTD return has been 7.7%.

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