Clarification on news item/Market rumour regarding buy back approval
INTERARCH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
A news report in Business Standard claimed Interarch approved a Rs. 10 crore share buyback at Rs. 2,000 per share. Similar information was circulating on the Groww platform. The company has issued a clarification stating the news is factually incorrect, baseless, and misleading. Interarch has neither considered nor approved any buyback proposal at any Board Meeting or otherwise. The company is unaware of the source of this incorrect information and has advised investors to rely only on official disclosures to the Stock Exchanges.
The false buyback news has been officially denied. The stock should not react positively to the rumored buyback going forward. Investors should disregard unverified reports and third-party platforms.