India's Amrutanjan Health Care surges on share buyback approval

Amrutanjan Health Care

30/06/2023 06:53

(Updates after buyback confirmation with details of scheme,
share movement and milestones)
    ** Shares of Amrutanjan Health Care  AJAN.NS  surge as much
as 16.1% after co approves share buyback
        ** Co to buy shares worth up to 288 mln rupees ($3.5
mln) at 900 rupees per share through tender offer route
  
        ** Co posts steepest intraday climb since Jan. 4, 2021,
and highest level since Aug. 16, 2022
  
        ** About 1.65 mln shares change hands by 11:21 a.m. IST,
highest since Feb. 12, 2021
    ** Stock climbs above 50-, 100-, and 200-day exponential
moving averages
    ** Stock's relative strength index climbs above 70 in the
session, indicating it is overbought
    ** Including session's gains so far, stock up ~6% YTD

($1 = 82.0450 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))