Swaraj Engines Considers Buyback
Bhoomi Desai 11/24/2017 11:17:00 am Accurate Stock Tips , best intraday tips provider , best stock tips , Equity Tips , Indian stock tips , intraday tips , Share advisory , Shares Tips , Stock Option , ways2cap Premium Equity Tips , Ways2Capital-Review Edit
Swaraj Engines Ltd has informed BSE that a meeting of the Board of Directors of the company will be held on November 28, 2017, inter alia, to consider the proposal to buy back the fully paid-up equity shares of the company. In the last trading session, Swaraj Engines Ltd had ended at Rs 1899.9, up by Rs 2.85 or 0.15% from its previous closing of Rs 1897.1 on the BSE. The scrip had opened at Rs 1900 and touched a high and low of Rs 1901.9 and Rs 1883.4 respectively. The stock traded below its 100 DMA. The promoters holding in the company stood at 50.61% while Institutions and Non-Institutions held 17.83% and 31.56% respectively.
Swaraj Engines (SEL) manufactures engines for Swaraj brand of tractors, owned by Mahindra & Mahindra (M&M). SEL caters to ~85% of M&M’s Swaraj tractor division. The company’s volume in FY17 rose 28%, outperforming industry volume growth of 18%.
Originally published at ways2capital-review.blogspot.com on November 24, 2017.