eClerx Services share rises 10% on buyback approval

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eClerx Services share price rose more than 10 percent intraday on July 6 after the company's board approved buyback of shares.

The company board has approved the buyback of company's equity shares for an aggregate amount not exceeding Rs 1,095 million, at a buyback price not exceeding Rs 550 per equity share from the shareholders/beneficial owners of the company.

The board has also constituted a committee for the purpose of the buyback. Emkay Global Financial Services Limited has been appointed as the manager to the buyback.

At 12:56 hrs, eClerx Services was quoting at Rs 494.25, up Rs 17.95, or 3.77 percent on the BSE.