Sun Pharmaceutical on Thursday said its board will consider a proposal for buyback of shares next week. In a BSE filing, the company said, “We wish to intimate that the meeting of the board of directors of the company is scheduled to be held on March 17 to consider and if deemed fit, to approve, the proposal for buyback of fully paid-up equity shares of the company, which would include the maximum amount, the maximum number of equity shares, mode of buy-back and other matters.”
It added that in this connection, as per the company’s code of conduct for prevention of insider trading, the trading window for dealing or trading in securities will remain closed with immediate effect for all directors, designated persons and insiders. It will reopen after the expiry of 48 hours following the conclusion of the meeting.
