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Last Updated : Dec 02, 2019 03:02 PM IST | Source: Moneycontrol.com

Jagran Prakashan share price spikes 7% on buy-back plan

A meeting of the Board of Directors of Jagran Prakashan is scheduled to be held on December 9, 2019 to consider a proposal for buy-back of the fully paid-up equity shares of the company.

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Share price of Jagran Prakashan surged over 7 percent intraday on December 2 after the company announced a buy-back plan.

"A meeting of the board of directors of Jagran Prakashan is scheduled to be held on December 9, 2019 to consider a proposal for buy-back of the fully paid-up equity shares of the Company, as well as matters related/ incidental thereto (such meeting hereinafter referred to as the ‘board meeting’), the company told the exchanges.

The stock fell over 46 percent in the last six months.

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The company had posted a profit after tax of Rs 44.87 crore during the July-September quarter a year ago. Revenue from operations was slipped 7.03 percent to Rs 514.49 crore during the quarter, as against Rs 553.44 crore in the corresponding quarter a year ago.

At 14:51 hrs Jagran Prakashan was quoting at Rs 59.20, up Rs 4.05, or 7.34 percent. It has touched an intraday high of Rs 61 and an intraday low of Rs 58.55.

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First Published on Dec 2, 2019 03:02 pm
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