Shares of Zydus Lifesciences Ltd surged after it informed the exchanges about its proposal for a Buyback plan. Further, the company will also announce its results for the quarter of December 2023 in its board meeting on February 6, 2024. 

Zydus Life’s shares hit a 52-week high of Rs 809.20. The stock closed 5.12% higher at Rs 799.85 on the National Stock Exchange (NSE).

Earlier, the pharmaceutical company had bought back 1.15 crore shares from June to July 2022 at a buyback price of Rs 650 per share, amounting to Rs 750 crores. 

Looking at the financials of the last two years, the drug company’s net profit decreased from Rs 4.49 crore to Rs 1.96 crore from the financial year ending March 31, 2022, to March 31, 2023.

Zydus Lifesciences Ltd has a diverse range of healthcare products. It’s a research-based pharmaceutical company that manufactures and trades various drugs globally.

On February 6, shares of Zydus Lifesciences Ltd closed 5.12% higher at Rs 799.85.