Brief: Responsive Industries Defers Buyback Program

Responsive Industries

04/12/2018 07:12

Dec 4 (Reuters) - Responsive Industries Ltd  RSPO.NS :
    * DECIDED TO REVIEW ONGOING BUYBACK PROGRAM AND DEFER SAME
FOR
TIME BEING TO REWORK BUYBACK SCHEME
    * OBSERVED THAT CO'S SHARE PRICE HAS BEEN MORE OR LESS ABOVE
90
RUPEES AND BUYBACK PRICE HAS BEEN CAPPED AT 77 RUPEES
    * BUYBACK EXERCISE MAY NOT EVOKE ANY RESPONSE
    * "AMOUNT BEING SPENT ON BUY-BACK WOULD BE A WASTEFUL
EXERCISE"

Source text: http://bit.ly/2KRycLb
Further company coverage:  RSPO.NS 

 ((Reuters.Briefs@thomsonreuters.com;))