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eClerx Services gains after setting record date for share buyback

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rose 1.39% to Rs 1,539.50 at 13:22 on after the company fixed 28 October 2016 as the record date for ascertaining entitlement for buyback of equity shares.

The announcement was made during market hours today, 17 October 2016.

Meanwhile, the S&P Sensex was down 130.69 points, or 0.47%, to 27,542.91

On BSE, so far 5,233 shares were traded in the counter, compared with average daily volume of 6,391 shares in the past one quarter. The stock hit a high of Rs 1,599 and low of Rs 1,533.55 so far during the day. The stock hit a record high of Rs 1,775 on 30 August 2016. The stock hit a 52-week low of Rs 1,190 on 28 March 2016. The stock had outperformed the market over the past 30 days till 14 October 2016, falling 1.07% compared with Sensex's 2.6% fall. The scrip also outperformed the market in past one quarter, rising 3.97% as against Sensex's 0.59% decline.

The mid-cap company has equity capital of Rs 40.88 crore. Face value per share is Rs 10.

said that the share buyback committee of board of directors of the company at its meeting held on Friday, 14 October 2016, has determined the final buyback price of Rs 2,000 per share and the final amount for buyback to be Rs 234 crore. With the buyback price of Rs 2,000 per share and buyback size of Rs 234 crore, the total number of shares to be bought back in the buyback shall be 11.70 lakh equity shares, representing about 2.87% of the total issued and paid-up equity capital of the company as on 31 March 2016. The company will buy back shares on proportionate basis from existing shareholders through the tender offer route. The announcement was made on Saturday, 15 October 2016.

On a consolidated basis, net profit of rose 27.25% to Rs 95.92 crore on 14.09% rise in net sales to Rs 340.33 crore in Q1 June 2016 over Q1 June 2015.

eClerx Services is a leading knowledge process outsourcing (KPO) company providing middle/back office operations support to over 30 Fortune 500 companies. Its five delivery centers across India support a diverse global client base, including the world's leading financial services, broadband, cable & telecom, ecommerce & retail, high tech, industrial manufacturing & distribution, software, media & entertainment and travel companies.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 17 2016. 13:34 IST