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.
Dec 2, 2019 / 03:02 PM IST
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.
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.