The stock finally ended with a gain of 5% at Rs 129. Volumes jumped to 32,081 shares as against its two week daily average trade of 5,061 shares on the BSE.
________________________________________________ (Updated at 1242 hrs)
Aegis Logistics has soared on announcing their buy-back plan.
The stock today opened at Rs 126 and zoomed 8% to touch a high of Rs 133. The stock is currently trading near its high at Rs 132 - up 7.5%. The counter has witnessed comparatively heavy volumes of 20,184 shares as against its two-week daily average trade of 5,061 shares.
Aegis Logistics has proposed to buy back a minimum of 584,654 shares at a maximum offer price of Rs 143 per share from its shareholders.
The company has offered to buy-back a maximum of 1.17 million shares of the face value of Rs 10 each. The buy-back size is 10% of the aggregate paid-up equity share capital and free reserves of the company.
The amount deployed for the purpose will not exceed Rs 16.72 crore. The offer price is at a 10% premium of the stock price on the BSE at this moment.
The buy-back is set to open on August 10, 2009 and will end on July 8, 2010.
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