The company made the announcement during trading hours today, 25 January 2012.

Meanwhile, the BSE Sensex was up 86.49 points, or 0.51% to 17,082.26.

On BSE, 1.07 lakh shares were traded in the counter as against average daily volume of 59,707 shares in the past one quarter.

The stock hit a high of Rs 153 and a low of Rs 138.35 so far during the day. The stock had hit a record low of Rs 107 on 26 August 2011. The stock had hit a 52-week high of Rs 185.10 on 24 January 2011.

The stock had outperformed the market over the past one month till 24 January 2012, rising 21.16% compared with the Sensex's 7.99% return. The scrip had also outperformed the market in past one quarter, gaining 6.99% as against 0.33% gain in the Sensex.

The mid-cap diesel engines maker has an equity capital of Rs 29.13 crore. Face value per share is Rs 2.

Kirloskar Oil Engines said that the maximum buyback price is Rs 170 per share and the buyback amount would not exceed Rs 73.625 crore, which represents 10% of total paid up capital and free reserves of the company as per latest audited balance sheet as on 31 March 2011.

Kirloskar Oil Engines' net profit fell 11.1% to Rs 34.93 crore on 1.76% growth in net sales to Rs 585.90 crore in Q3 December 2011 over Q3 December 2010. The company announced the results during trading hours today, 25 January 2012.

Kirloskar Oil Engines makes diesel engines, agricultural pumpsets and generating sets. The company has a sizable presence in international markets, with offices in Dubai, South Africa, and Kenya, and representatives in Indonesia and Nigeria. It also has a strong distribution network throughout the Middle East and Africa.

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