Stocks

HGS board to meet on Jan 14 for buyback

| | Updated on: Jan 11, 2022

The board is scheduled to meet on January 14

Our Bureau

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.

Published on January 11, 2022

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