Stock Tips-DCM Shriram up by 12.20 pc on share buyback

The share price of DCM Shriram Limited escalated up by 12.20 percent in Tuesday’s trade as media reports surfaced that the company will be mulling a share buyback on June 18.

A meeting of the BoD of DCM Shriram Limited will be held on Monday, 18, June 2018, to consider the prospect to Buy-Back the fully paid-up equity shares.

The Trading Window with respect to the Equity Shares of DCM Shriram Ltd will remain closed from 12 June to 20 June, both days inclusive, for the insiders of the Company as covered under the said Code.

In Tuesday’s trade, DCM Shriram’s share opened at 282, hit a high and low of Rs. 309 and 279.05 respectively and ended at Rs. 303.90 up by 12.20% in trade today on BSE. The stock also clocked a surge in volume by over 6.09 times as against its average volume. The Benchmark BSE Sensex ended higher by 209.05 points, to 35,692.52, whereas the NSE Nifty50 rose 55.90 points to close at 10,842.85, on closing Tuesday.

DCM Shriram posted a growth of over 31% in its net profit to Rs. 688.44 crore in the FY2018 as against Rs. 522.07 crore in the year-ago period. Its revenue also spurted by 14% to Rs. 6,912.99 crore in the FY2018 on Year-on-Year basis.

DCM Shriram Limited is a leading business conglomerate with a group turn-over of Rs. 7,063 crores. Its business comprises primarily Fertilizer, Chloro Vinyl & Cement in various verticals.  It shares are actively traded on BSE and NSE.

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