Sarla Performance Fibers Up 6%, Board To Consider Buyback On May 27

Sarla Performance Fibers rallied 6% on the NSE in morning hours of trade as the company is going to consider a buyback. The company in its filing to the exchange said that a board meeting scheduled is on May 27, may consider the buyback proposal of equity share of the company.

The press-release also add that the board will also consider and recommend dividend on equity shares, if any, for the financial year ended March 31, 2017.

The stock on the NSE has delivered negative returns of 7.39% in a period of one year and has underperformed the BSE Small cap and BSE 500 indices over the same time period.

Sarla Performance Fibers Limited is an India-based company, which is engaged in manufacturing of yarn. The company is an exporter of regular, as well as high tenacity polyester and nylon yarns. 

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