It also mentioned that with this new order, its order book would be well-placed and might reach Rs 2,000 crore in FY21. As of the end of FY20, the order book stood at Rs 1,788.2 crore.

The board of the company on Tuesday announced that it has approved the buyback of equity shares having a face value of Rs 2 from the open market at a maximum price of Rs 40 per equity share.

Out of this, its Chennai plant has a capacity of 6 million wheels, which caters to its passenger and multi-utility vehicle (MUV) related demand.

One should focus on the way ahead rather than looking at what happened in the past. Markets are here for a long time and thinking over what happened, would add more to the agony of the retail investors.

In the recently reported financial numbers of Q4FY20, it reported a profit of Rs 16.78 crore, which is the first time since the September quarter in 2015. The bank has shown signs of improvements in FY20.

Meanwhile, its annual sales volume declined by 11 per cent in FY20. The company has reported its fourth quarter and FY20 financial numbers. Its sales volume declined to 3,20,373 MT for FY20.

The company stands out as one of the leading pharma companies in the world. Its core fundamental growth is driven by 294 approved & filed 390 abbreviated new drug applications (ANDAs).

The cable sector is expected to take cues from results as the core fundamentals may have taken hit during the lockdown. Companies such as Finolex Cables and Universal Cables have reported 20 per cent and 10 per cent decline in sales, respectively, for the fourth quarter of the previous fiscal.

Momentum in the share price can be expected to continue as the buyback is proposed at Rs 1,000 per equity share, which is at 22 per cent premium from its Tuesday closing price.

Interestingly though, the company is yet to report its Q4FY20 as well as FY20 financial numbers. The company notified about its board meeting cancellation via an exchange filing made on June 25, 2020.