Insecticides (India) drops after weak buyback premium

Rallis India

02/09/2024 05:57

** Shares of Insecticides (India) Ltd  ISIL.NS  down 5.9% at
936 rupees
    ** ISIL announced a buyback of shares worth 500 million
rupees (around $6 mln) after market hours on Friday at 1,000
rupees per share
    ** Buyback price at 0.6% premium to Friday's close to 994.45
rupees
    ** Rivals Dhanuka Agritech  DHNP.NS  and Rallis India
 RALL.NS  closed at 1,825.9 rupees (down 0.8%) and 352.4 rupees
(up 4.5%) on Friday 
    ** Stock down for third-straight session where it has lost
8.5% 
    ** ISIL trims YTD gains to ~40%



($1 = 83.8800 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))