Dharma Trading Company (DTC) announces $1 billion stock buyback
The stock of Dharma Trading Company is trading up $1.70 a share on the Nasdaq Stock Market after the company announced its stock buybacks for the past five years.DTC’s shares were up 2.6% on Wednesday, up from a gain of 3.2% on Tuesday.
The company said it plans to use $100 million of the $1,000 million it has raised to buy back shares.
Dharma trading Company has a strong reputation in India and the U.S., according to the Wall Street Journal.
In India, the company offers financial services and a brokerage account to the people and businesses.
Dtc also operates a subsidiary called Dharma Investment Trust, which offers a broad range of investment services to Indian investors.
Dharmabird shares were trading up 5.3% at Rs 10,827 on the OTC Markets on Wednesday.