India's Kaveri Seed soars on $15.3 mln share buyback

Kaveri Seed

27/10/2022 09:18

** Shares of hybrid seeds producer Kaveri Seed Company
 KVRI.NS  rise as much as 6.8% to 487.95 rupees, their highest
in over a month
    ** Co on Thursday says it approved a proposal to buy back
shares worth up to 1.26 billion Indian rupees($15.31
million) urn:newsml:reuters.com:*:nFWN31S2WQ
    ** Adds, buyback at a price of 700 rupees per share
    ** More than 770,000 shares traded, 5.1x their 30-day moving
avg of more than 150,000 shares
    ** Four of 5 brokerages rate the stock "buy" or higher, and
1 "hold;" their median PT is 635 rupees- Refinitiv 
    ** Up to last close, stock had fallen 19.97% YTD
($1 = 82.3200 Indian rupees)
 (Reporting by Yagnoseni Das in Bengaluru)
 ((yagnoseni.das@thomsonreuters.com;Mobile: +91 6001289066))