Ramco Cements buys back shares worth Rs 167.70 cr

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Ramco Cements said that it has bought back 25 lakh shares at an average price of Rs 670.80 apiece at a cost of Rs 167.70 crore. "We have bought back 25,00,000 shares at a cost of Rs 167.70 crore excluding brokerage and other charges and at an average price of Rs 670.80 per share," the company said in a Bombay Stock Exchange (BSE) filing.

The company further said post buyback, the paid up share capital would stand reduced from Rs 23,80,76,780 to Rs 23,55,76,780 and number of equity shares would stand reduced from 23,80,76,780 to 23,55,76,780 of Re 1 each. Meanwhile, shares of the company were trading at Rs 690.15 apiece, down 0.39 per cent from the previous close at 11:20 hours on BSE.

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