Emami announces ₹282 crore open‑market buyback, shares jump 4%

Emami announced a buyback worth up to ₹282 crore, with a ceiling price of ₹475 per share, and the stock rose about 4% on Monday. The board approved the plan on September 17 and will buy back a maximum of 59.36 lakh shares, roughly 1.36% of its paid‑up equity. At least 75% of the budget, or ₹211 crore, must be spent on purchases, while ₹112.8 crore will be used in the first half of the offer. The buyback size equals about 9.3% of the company's total paid‑up capital and free reserves, staying within the 10% regulatory cap. If the full amount is used, promoter holding could rise to 55.6% from 54.84% and public holding would fall to 44.4% from 45.16%. The program will be executed in the open market, so the actual price may vary below the ₹475 ceiling. Technical analyst Jigar S Patel of Anand Rathi Share and Stock Brokers Limited noted three extended bottoms on the weekly chart around the April 2023 low and a bullish RSI divergence. He advises investors to accumulate shares in the ₹360‑380 range, treating ₹340 as a stop‑loss level. He sees potential upside to ₹445 as long as the stock stays above ₹340. Emami, based in Kolkata, reported a turnover of ₹3,780 crore for FY26 and sells more than 25 personal‑care brands across 5.4 million Indian outlets and over 70 countries. The company aims to earn 25% of its turnover from strategic investments by FY30.