Stock of Cosmo First gained over 2% today after board of the firm cleared buyback of shares worth Rs 108-crore from existing shareholders. The company will buy back 10.09 lakh shares having a face value of Rs 10 each representing 3.70 per cent of the total paid-up equity share capital of the company as of March 31, 2022. ┬а
Cosmo First stock gained 2.28 per cent to Rs 847 against the previous close of Rs 828.30 on BSE.┬аThe stock opened higher at Rs 831.90 on BSE. Cosmo First stock has gained 21% in the last six sessions on the buzz of share buyback. ┬а
The stock is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages. ┬а
In a week, the stock has risen 21.66%.┬а However, in a year, the stock has fallen 8 per cent and lost 8.54% in 2022. ┬а
Total 9133 shares of the firm changed hands amounting to a turnover of Rs 76.48 lakh on BSE. The market cap of the firm rose to Rs 2,300 crore.┬а
The stock hit its 52-week high of Rs 1427.38 ┬аon ┬аApril 11, 2022 and a 52-week low of Rs 657.95 on November 15, 2022.┬а
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The buyback price has been fixed at Rs 1,070 per share (face value Rs 10 per share) amounting to a premium of 42% over the closing price as on November 28, 2022.┬а
The board has fixed December 14, 2022 as record date for the purpose of ascertaining the eligibility of the shareholders for the buyback.┬а
The firm reported a 24.74 per cent fall in Q2 net profit to Rs 73.23 crore against ┬аRs 97.30 crore profit in the corresponding quarter of the previous fiscal. However, sales rose 2.45% to Rs 777.94 crore in the September quarter against Rs 759.37 crore in the corresponding quarter of the previous fiscal.
Cosmo First Limited, formerly Cosmo Films Limited, is a manufacturer of semi-finished products of plastics. The companyтАЩs products comprise biaxially oriented polypropylene films, thermal films and coated films. It operates through two segments: Packaging Films and Others. The company has manufacturing facilities spread across India and Korea. ┬а
Meanwhile, Sensex fell 233 points to 63,050 and Nifty lost 75 points to 18,736 in early trade. The fall in market comes after eight straight sessions of gains.┬а
