NIIT share price hits new 52-week high after board approves Rs 237-crore buyback plan

The public announcement setting out the process, timelines and other details would be released in due course, the company has said.

December 28, 2020 / 11:38 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

NIIT share price jumped 4 percent after the company board approved Rs 237-crore buyback plan.

The company on December 24 said its board has approved an up to Rs 237-crore buyback proposal at Rs 240 per equity share.

“...the Board of Directors of the company at its meeting held on December 24, 2020, has approved a proposal for buyback of up to 9,875,000 fully paid-up equity shares of the company...for an aggregate amount not exceeding Rs 2,370,000,000," a regulatory filing said.

The buyback, which is proposed to be made under the tender offer route, is subject to shareholders' approval by passing a special resolution through postal ballot, the filing said.

The public announcement setting out the process, timelines and other requisite details would be released in due course, it added.

Close

The stock was trading at Rs 208.60, up Rs 8.20, or 4.09 percent at 1120 hours. It has touched a 52-week high of Rs 209.90.

The scrip also witnessed a 1.16 time spurt in vloume and was trading with volumes of 144,373 shares, compared to its 30-day day average of 117,732 shares, an increase of 22.63 percent.
Moneycontrol News
first published: Dec 28, 2020 11:38 am

stay updated

Get Daily News on your Browser
Sections