Eicher Motors hits upper circuit on buyback plan

Newswire

NEW DELHI, Oct 31 (Reuters) - Shares of Eicher Motors on Friday rose 20 percent, its upper circuit, after its board approved plans to buy back shares at four times its last closing price. Eicher's board on Wednesday gave in-principle approval to parent Eicher Goodearth Investments Ltd to buy back 13.12 percent in the truck and bus maker at 691.68 rupees a share. The markets were closed on Thursday for a local holiday. Eicher Goodearth in May said it planned a share buyback after Eicher ...

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