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Home News Symphony slips 7% as stock trades ex-date for share buyback

Symphony slips 7% as stock trades ex-date for share buyback

Stock,

In intraday trade on Wednesday, Symphony shares fell 7% to Rs 1,009 on the BSE because the stock was no longer eligible for share buyback.

The Organization has fixed Wednesday, Walk 29, 2023 as the record date to decide the names of the qualified and value investors who will be qualified to take part in the buyback, and the investors to whom the letter of proposition and delicate structure will be given. will be provided. will be notified about the buyback.

The directorate of the shopper hardware organization in its gathering hung on February 08, 2023 has endorsed and reported share buyback of up to Rs 200 crore at an offer cost of Rs 2,000 for every offer through delicate proposition.

In the meantime, during the conference call for the December quarter, management stated that the company anticipates sustained demand from channel partners in India. The Hi-Tech BLDC Air Cooler is one of several new products that have been introduced recently. EBITDA margin and standalone GM to rise; In the medium term, historical EBITDA margins of 30% are also possible.

Demand for air coolers may rise this summer despite the current low level of consumer sentiment (which is less affected by economic factors than seasonality). It is anticipated that Australia’s Climate Technologies (CT) weakness will persist in the near future. In a result update, analysts at HDFC Securities stated that the dividend payout policy has changed from 50 percent to at least 60 percent.

first released: 29 March 2023, 11:00 a.m.

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