Persistent gains as board to consider buyback proposal

The Board will discuss the proposal at its meeting scheduled for January 27 and January 28.

Jan 24, 2019 11:01 IST India Infoline News Service

Persistent Systems
Shares of Persistent Systems gained 1% on Thursday after its board, on Wednesday, announced that it will be considering a share buyback proposal.

"The board, at its meeting scheduled to be held on January 27 and to continue on January 28, will consider a proposal for the buyback of the fully paid-up equity shares of the company," Persistent said in a press note released after market hours on Wednesday.

Persistent Systems Ltd's share price is currently at Rs552.20, up Rs7.9, or 1.45%, from its previous close of Rs544.30 on the BSE.

The scrip opened at Rs556 and has touched a high and low of Rs560.95 and Rs545.75, respectively. So far, 1,68,773 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs4,354.40cr.

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