Indus Towers shares zoom 5% as company plans to consider share buyback

Shares of Indus Towers jumped 5.3% on the BSE today to a fresh 52-week high of Rs 447.30 after the company announced that it will consider a share buyback in its upcoming board meeting.

“The Board of Directors will also consider, inter alia, the following agenda at its meeting: To consider and approve the proposal for buyback of fully paid-up equity shares of Rs. 10/- each of the Company, including matters related/ incidental thereto, (‘Buyback’). In accordance with the applicable provisions under the Companies Act, 2013, the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended, and other applicable laws (if any),” said the company in its filing to the exchanges.