10:32 Oct 23, 2014  

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Hot Pursuit
Tips Industries spurts after buyback of own shares
Published on Tue Aug 17, 2010 at 02:13 PM

Meanwhile, the BSE Sensex was up 51.38 points, or 0.28%, to 18,102.42.

On BSE, 1.09 lakh shares were traded in the counter as against an average daily volume of 22,249 shares in the past one quarter.

The stock hit a high of Rs 47.75 and a low of Rs 44.50 so far during the day. The stock had hit a 52-week high of Rs 62.70 on 6 January 2010 and a 52-week low of Rs 37 on 21 May 2010.

Including the buy-back of shares on Monday, 16 August 2010, the company has, so far, bought back 7.42 lakh shares.

As per Indian laws, a company has to compulsorily extinguish all the shares it buys back. A buyback, therefore, helps boost ratios such as earnings per share etc.

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