dkishore
20-06-2008, 05:53 AM
Rumours of a buyback have been propping up the share price of Aurobindo Pharma over the past one week. As per market talk, the Hyderabad-based pharmaceutical company is going ahead with its proposal to buy back shares up to 8% of the company’s networth. “The company was a bit unsure about Sebi allowing the buyback as it would increase promoter’s holding in the company. They had even sought legal opinion on this matter,” an equity analyst said.