Granules India announced that the company's shareholders have approved buyback worth Rs 2.50 billion.

The company said, ''The board of directors of the company at their meeting held on January 21, 2020, have approved the proposal of buyback of up to 1,25,00,000 fully paid equity shares of face value of Re 1 each at a price of Rs 200 per share aggregating up to Rs 2.50 billion.''

Also, the buyback committee have approved March 20, 2020, as the record date for the purpose of determining the entitlement of the equity shareholders who shall be eligible to participate in the said buyback.

Shares of the company gained Rs 7, or 4.33%, to trade at  Rs 168.70.  The total volume of shares traded  was  93,146 at the BSE (11.49 a.m., Wednesday).