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Goldiam International stock zooms over 16% after board clears share buyback

Goldiam International stock zooms over 16% after board clears share buyback

Share of Goldiam International rose 16.59% to Rs 1074, a fresh record high against previous close of Rs 1,074

Goldiam International stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Goldiam International stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Goldiam International share touched a fresh record high today after board of the firm approved buyback of shares.

 Share of Goldiam International rose 16.59% to Rs 1074, fresh record high against previous close of Rs 1,074.
Later, the share closed 10.84% or Rs 99.85 higher at Rs 1,021 on BSE. 

The stock has gained 40.35% in the last 5 days. Goldiam International stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 715.75% in one year and risen 332.75% since the beginning of this year. Market cap of the firm rose to Rs 2,252.09 crore on BSE. Total 0.89 lakh shares changed hands amounting to turnover of Rs 8.89 crore on BSE.

The board of directors on September 13, 2021 cleared a proposal to buy back up to 3,80,000 equity shares of the company for an aggregate amount not exceeding Rs 45 crore and 60 lakh, being 01.71 % of the total paid-up equity share capital and 19.35% of the total paid-up equity share capital at a price of Rs 1,200 per equity share, the company said in an exchange filing.

The buyback is proposed to be made from the existing shareholders of the company as on the record date on a proportionate basis under the tender offer route using the stock exchange mechanism in accordance with the provisions contained in the SEBI, the company added.

Goldiam International Ltd is an Indian company operating as a manufacturer of diamond-studded gold, platinum and silver jewellery. The principal business activities of the company are manufacturing and exporting of studded gold and silver jewellery.