eClerx Services gains 1.6%; Buyback prices fixed at Rs 2000 per share

India Infoline News Service | Mumbai | October 17, 2016 14:19 IST

With the Buyback price of Rs 2,000 and Buyback Size of Rs 2,340 million, the total number of shares to be bought back in the Buyback shall be 1,170,000 Equity Shares, representing about 2.87% of the total issued and paid-up equity capital of the Company as on March 31, 2016.

eClerx Services Ltd is currently trading at Rs 1542.7, up by Rs 24.25 or 1.6% from its previous closing of Rs 1518.45 on the BSE.

eClerx Services Ltd has informed BSE that the Share Buyback Committee of Board of Directors of the Company at its meeting held on October 14, has determined the Final Buyback Price of Rs. 2,000 (the “Buyback Price”) and the final amount for Buyback to be Rs 2,340 million excluding the transaction costs viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty etc.

With the Buyback price of Rs 2,000 and Buyback Size of Rs 2,340 million, the total number of shares to be bought back in the Buyback shall be 1,170,000 Equity Shares, representing about 2.87% of the total issued and paid-up equity capital of the Company as on March 31, 2016.

The aforesaid terms of Buyback are within the maximum limits approved by the Board of Directors at its meeting held on August 29, 2016, and as approved by shareholders by special resolution, through postal ballot, results of which were announced on October 14, 2016.

The scrip opened at Rs 1599 and has touched a high and low of Rs 1599 and Rs 1533.55 respectively. So far 75963 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 6207.78 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1775 on 30-Aug-2016 and a 52 week low of Rs 1190 on 28-Mar-2016. Last one week high and low of the scrip stood at Rs 1549.9 and Rs 1500 respectively.

The promoters holding in the company stood at 50.25 % while Institutions and Non-Institutions held 41.71 % and 8.04 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart

 

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