S.P. Apparels Ltd on Wednesday (21-09-2022) announced that its board has approved a share buyback of 6 lakh shares at ₹585 apiece.
Note: A share buyback, also known as a share repurchase, is a corporate action to buy back its own outstanding shares from its existing shareholders usually at a premium to the prevailing market price. It can be an alternative tax-efficient way to return money to shareholders. Share buybacks reduce the number of shares in circulation, which can increase the share value and the earnings per share (EPS).
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