The Board of Directors of Responsive Industries Ltd at its meeting held today, i.e. Tuesday, December 04, 2018, has reviewed the proposed buy-back of shares by the Company and observed that since the price of the Company's shares has been more or less above Rs. 90/- and the buyback price have been capped at Rs. 77/-, the buyback exercise may not evoke any response. Hence the amount being spent on the buy-back would be a wasteful exercise and the Board after careful consideration and deliberation decided to review the ongoing buyback program and defer the same for the time being to rework the buyback scheme.
The said Board Meeting commenced at 12.00 p.m and concluded at 12.30 p.m.
Shares of RESPONSIVE INDUSTRIES LTD. was last trading in BSE at Rs.87 as compared to the previous close of Rs. 88.05. The total number of shares traded during the day was 19854 in over 179 trades.
The stock hit an intraday high of Rs. 93 and intraday low of 84.5. The net turnover during the day was Rs. 1743321.