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Nucleus Software advances after fixing record date for buyback of shares

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rose 1.3% to Rs 340 at 10:15 on after the company said it has fixed 30 June 2017 as record date for buyback of

The announcement was made after market hours on Friday, 16 June 2017.

Meanwhile, the S&P Sensex was up 127.59 points, or 0.41% at 31,183.99. The S&P Small-cap index was up 13.43 points, or 0.09% at 15,680.67.

On the BSE, 14,000 were traded on the counter so far as against the average daily volumes of 22,814 in the past one quarter. The stock had hit a high of Rs 342 and a low of Rs 335.95 so far during the day. The stock had hit a 52-week high of Rs 343.90 on 22 May 2017 and a 52-week low of Rs 171 on 29 September 2016.

The stock had underperformed the market over the past one month till 16 June 2017, sliding 0.15% compared with the Sensex's 1.55% rise. The scrip had, however, outperformed the market over the past one quarter advancing 32.3% as against the Sensex's 4.97% rise. The scrip had also outperformed the market over the past one year advancing 63.17% as against the Sensex's 17.08% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

said that the buyback committee of the board at its meeting held on Friday, 16 June 2017 has fixed 30 June 2017 as the record date for the buyback of equity shares. The board has approved buyback of upto 33.43 lakh equity shares representing upto 10.32% of the total paid-up equity share capital of the company. The buyback price is Rs 350 per share for an aggregate amount not exceeding Rs 117 crore which is 24.83% of the paid-up equity share capital and free reserves of the company for the financial year ended 31 March 2017.

Exports' consolidated net profit rose 39.82% to Rs 22.26 crore on 0.59% increase in net sales to Rs 93.69 crore in Q4 March 2017 over Q3 December 2016.

Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry.

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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, June 19 2017. 10:16 IST