As many as five companies including Zydus Lifesciences, Welspun Living and others are approaching the record dates for their respective share buybacks. Only those shareholders who own the shares of these companies in their demat accounts will be eligible to tender shares as part of the offer.Share buyback refers to a corporate action where a company repurchases its own shares from existing shareholders, mostly at a premium to the market price.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.