Stocks

SIS gains nearly 5% on buyback nod

Our Bureau Mumbai | Updated on February 16, 2021 Published on February 16, 2021

The shares of SIS Ltd. gained nearly 5 per cent on Tuesday after the company approved a buyback proposal of fully paid-up equity shares worth ₹100 crore.

At 10:11 am, SIS Ltd was trading at ₹446.60 on the BSE, up ₹20.45 or 4.80 per cent. It opened at ₹440.20 as against the previous close of ₹426.15. It hit an intraday high of ₹465.00 and an intraday low of ₹440.00.

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SIS India eyes double-digit domestic growth
 

On the NSE, it was trading at ₹445.70, up ₹19.95 or 4.69 per cent.

The Board of Directors of the company on Monday approved a proposal for buyback of fully paid-up equity shares of the company worth ₹100 crore from all shareholders as on record date, which will be decided subsequently, on a proportionate basis, through the "tender offer" route. The board approved a price of ₹550 per share to buyback 18.18 lakh shares, representing 1.24 per cent of the total number of equity shares in the company’s total paid-up equity capital as on March 31, 2020.

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Published on February 16, 2021
stocks and shares
buyback
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