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Jyothy Labs hikes buyback price to ₹240, cuts share repurchase target to 61 lakh

Reported by: CNBC TV18 ·

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Jyothy Labs

Summary

CNBC TV18 reported that Jyothy Labs raised its buyback price to ₹240 a share from ₹215, and cut the maximum number of shares it will repurchase to 61.25 lakh from 68.37 lakh. The revised buyback will cover up to 1.67% of the company, the outlet said. Financial Express reported the higher price of ₹240 a share and the cut in share count. A buyback is when a company buys its own shares back from shareholders, usually at a set price. The number of shares is capped, so the company has fixed both the price and the size of the offer. One lakh is 100,000 shares.

AI summary of what CNBC TV18 and Financial Express reported. AI can make mistakes. Read the full story on CNBC TV18

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CNBC TV18  · · Tone -2

Jyothy Labs hikes buyback price to ₹240, cuts share repurchase target to 61 lakh

Jyothy Labs has increased its buyback price to ₹240 per share from ₹215, while cutting the maximum number of shares to be repurchased to 61.25 lakh from 68.37 lakh. The revised buyback will cover up to 1.67% of its…

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