Bayer Cropscience Rises Over 3% After Share Buyback Proposal

Bayer Cropscience on Thursday informed the bourses that a meeting of the board of directors is scheduled to be held on June 6, 2017, to consider a proposal for buy back of equity shares of the company.

The board is also likely to consider constitution of buyback committee and appointment of intermediaries.

Bayer Cropscience was up by 3.5% at Rs 4720.60 per share at 11:18 hours IST on BSE on Friday. It touched a high of Rs 4742.15 and a low of Rs 4630 so far during the day.

The stock has delivered around 3% returns over one year’s time. It has underperformed BSE mid-cap and Nifty commodities indices over the same period. The company’s peers include Monsanto India and PI Industries.

Bayer Cropscience Limited is engaged in the manufacturing of insecticides, rodenticides, fungicides and herbicides. The company operates through agri care segment.

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About Suhani Varma