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Hinduja Global Solutions Ltd (HGS) has informed the stock exchanges that its board will consider buyback of shares, acquisitions and potential mergers in a meeting scheduled on January 14. Following the announcement, the shares of HGS surged 6 per cent to end at ₹3,010.95 on the BSE.
On January 7, the stock dived 20 per cent after its board approved a dividend of ₹150 a share, post receiving a $1.09-billion for the sale of its healthcare operations. However, the Street disappointed with ‘measly’ payout announcement. Approval of 1:1 bonus shares and raising the limit to extend loans, make investments and provide guarantees or security to ₹3,500 crore were also announced.
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