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.

 

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.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 16, 2021
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.