Stocks

eClerx Services surges on buyback news

K. S. Badri Narayanan Chennai | Updated on November 22, 2017 Published on August 06, 2013

The stock of eClerx Services Ltd surged 3.8 per cent to Rs 769 in early trade on Tuesday, after the company informed the exchanges that its board will meet on August 8 for buy-back of equity shares.

The BPO/KPO company plans to buy back a maximum of 10 per cent of the paid-up equity capital and free reserves of the company, amounting to about Rs 409.82 crore, thus buyback size not exceeding Rs 40.98 crore.

Net profit of eClerx Services rose 43.31 per cent to Rs 59.96 crore in the quarter ended June 2013 against Rs 41.84 crore during the previous quarter ended June 2012. Sales rose 12.69 per cent to Rs 158.01 crore (Rs 140.22 crore).

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Published on August 06, 2013
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