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Vardhman Textiles Ltd.`s Buyback of Shares |
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INTRODUCTION |
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| On September 1 2016, S P Oswal (Oswal), Chairman and Managing Director (CMD) of Vardhman Textiles Limited (VTL), called CFO Rajiv Thaparto (Rajiv) to his cabin for a discussion on the company’s loss of market value in relation to its peers in the market despite showing consistency in earnings growth and payment of dividends and a healthier all-around performance in comparison to the industry average. They were going to submit a proposal to the Board of Directors (BoD) at the meeting to be held on September 24, 2016, as to whether the company would go in for distribution of dividend or buyback of shares or both as part of its strategic plan to improve the sluggish sentiment of the investors....
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