The quarter gone by (April-June) saw a large number of companies announcing buyback of shares. The move to increase the promoters shareholding was a mixed bag from the returns perspective. While some stocks rewarded investors with nearly 50 percent returns, some tanked as low as 18 percent. The companies stated in the list are, however, not comparable on their market cap basis. Take a look.
HUL: One of the most talked about open offer that flooded Indian market with much awaited capital managed to maintain a smile on their investors faces too. Unilever Plc had announced its intention to raise its stake in its Indian arm-Hindustan Unilever on April 30. The open offer brought in an inflow worth USD 3.2 billion.
Crompton Greaves: Despite offering a 40 percent premium on the buyback of its shares announced on June 28, the stock tanked 4 percent at the end of the quarter. The design, marketing and manufacturing company's stock price had fallen by over 40 percent Y-o-Y in FY13 due to weak financial performance.
H T Media: This Aditya Birla group promoted company, popular for its business newspaper and online portal shine.com launched its buyback offer on May 14, 2013. The stock, however, disappointed investors by closing Q1 at Rs 97.05 posting with a negative 3.14 percent returns.
Maharashtra Seamless: The company announced its buyback offer on April 8, 2013. The Rs 1392.89 crore market cap company posted -7.45 percent returns by the end of Q1.
Motilal Oswal Finance: The financial services company announced its buyback on April 27, 2013 and saw the stock rally a neat 11 percent on the back of the news. However, it lost steam as the company worth Rs 1129 crore in market capitalization , ending the quarter with miniscule 4.55 percent gains.
S Mobility: The mobile handset manufacturing company that opened at Rs 30.7 on April 1, closed the quarter at Rs 44.45, rewarding its investors with a handsome 45 percent gains. The company of Rs 795 crore market cap had announced its buyback on June 19 and gained nearly 5 percent on the back of the news.
Infinite Computers: On June 6, the company's shares rose nearly 5% to to Rs 97.10 soon after the buyback announcement was made. However, the Rs 365-crore (M-Cap) software solution provider ended the quarter with 19 percent negative returns.
Aptech: All those invested in the software training company found themselves comfortable as the stock closed Q1 with 50 percent returns. The company had announced its buyback offer on May 14 which will commence today.