India's KPR Mill hits near 3-month low; co withdraws share buyback plan

KPR Mill

12/07/2019 05:16

** Shares of KPR Mill Ltd  KPRM.NS  fall as much as 6.2%,
their lowest since April 15
    ** Textile manufacturer said https://www.bseindia.com/xml-data/corpfiling/AttachLive/9a28aa62-9eec-41e9-b109-82390664219f.pdf
 on Thursday it was withdrawing its buyback proposal due to the
tax proposal in the finance bill 2019 was neither contemplated
nor prevailing at the time of the
consideration and the approvals of the Board and Shareholders
    ** Co on April 30, 2019 proposed https://www.bseindia.com/xml-data/corpfiling/AttachHis/675079EA_7179_495D_87D8_6D3C407409EB_110900.pdf
 a buy back of 3.8 mln equity shares representing 5.17% of total
paid up equity shares 
    ** As of last close, KPR Mill shares up 8.7%, while peer
Raymond Ltd  RYMD.NS  was down 16.4% this year   


 (Reporting by Harish Bhaskar in Bengaluru)
 ((Harish.Bhaskar@thomsonreuters.com; +91 9886782831; Reuters
Messaging: harish.bhaskar.thomsonreuters.com@reuters.net))