Aurobindo Pharma is set to hold a board meeting on July 18 to consider a share buyback. The company announced that the buyback could be conducted either through the tender offer route or the open market route. Following this announcement, shares of Aurobindo Pharma surged, hitting a new high of Rs 1,394, and rallied by 5% on the BSE in Monday's intra-day trade. The stock also saw a significant rise of nearly 4% due to the buyback proposal, reaching a record high of Rs 1409.25.