India's Kaveri Seed Co rises on buyback approval
05/01/2024 10:18
** Shares of Kaveri Seed Co KVRI.NS closed up 1% after
rising as much as 3% earlier in the session
** Co approves buyback of shares worth up to 3.25 billion
rupees ($39.08 million) via tender offer route
** Buyback price of 725 rupees per share about 18% higher
than Thursday's close
** KVRI posts best week since July 2023 and third straight
session of gains
** More than 891,000 shares changed hands, 6.2x the 30-day
avg
** Stock had gained over 18% in 2023
($1 = 83.1681 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
((dimpal.gulwani@thomsonreuters.com))
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