Nectar Lifesciences Ltd on Thursday soared 18 per cent in Thursday's trade after the smallcap company board okayed a share buyback plan, where it showed its intent to buy back Rs 81 crore shares at a price of Rs 27 apiece, comprising 3,00,00,000 fully paid up equity shares. The announced buyback represents up to 13.38 per cent of the total number of equity shares in the existing total paid-up equity share capital of the company. Advertisement

Promoters, who held 44.91 per cent stake in the company at the end of September quarter, showed no intent to participate in the share buyback. The company has fixed December 24 as the record date for the purpose of ascertaining the eligibility of shareholders for buyback of equity shares.

Against a previous close of Rs 17.92 apiece, shares of Nect

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