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Nucleus Software jumps on buyback plan

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rose 4.09% to Rs 270.90 at 12:30 on after the company said its board will consider buyback of on Tuesday, 25 April 2017.

The announcement was made during trading hours today, 20 April 2017.

Meanwhile, the S&P Sensex was up 72.64 points, or 0.25% to 29,409.21.

On the BSE, 33,000 were traded in the counter so far, compared with average daily volumes of 19,189 in the past one quarter. The stock had hit a high of Rs 279.70 and a low of Rs 261 so far during the day. The stock hit a 52-week high of Rs 303.30 on 9 December 2016. The stock hit a 52-week low of Rs 171 on 29 September 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 7.25% compared with 0.50% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.87% as against Sensex's 7.43% rise.

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

A meeting of the board of directors of will be held on Tuesday, 25 April 2017, to consider the proposal of buyback of fully paid up equity shares of the company, up to such amount of the aggregate of company's paid up equity share capital and free reserves.

On a consolidated basis, Exports' net profit rose 16.37% to Rs 15.92 crore on 2.57% decline in net sales to Rs 93.14 crore in Q3 December 2016 over Q2 September 2016.

Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas.

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

First Published: Thu, April 20 2017. 09:38 IST