Thyrocare Technologies to consider share buyback; stock surges

Thyrocare Technologies gained over 7.5 per cent in the early morning trade on Monday as the company announced plans to consider buyback of shares.

The company informed the exchanges that a meeting of its Board of Directors will be held on August 04, 2018 to consider a proposal to buyback equity shares of the company.

The meeting will also discuss postponing its 18th Annual General Meeting, scheduled to be held on August 11, 2018 to a later date, to enable the shareholders to consider the aforesaid proposal, the company added.

At 14:53 hours, Thyrocare Technologies was trading at Rs. 629.50 per share, up Rs. 39.55 or 6.4 per cent on NSE, on Monday. The stock opened at Rs. 619.80 from a previous close of Rs. 589.95 and touched an intraday high of Rs. 635 per share on NSE. So far, the stock has attracted a traded volume of 1,07,680 shares against a 10-day average volume of 9,781 shares on NSE.