eClerx Services gains on share buyback hopes
The board has approved amendment of article enabling buy-back of as much as 10% of shares of the company.
eClerx Services has rallied 5% to Rs 660 in opening deals on BSE on hopes that the company may buyback its own equity shares from public shareholders.
The board of directors at its meeting held on Tuesday, April 9, has approved amendment of article enabling buy-back of as much as 10% of shares of the total paid-up equity capital and free reserves of the company.
“The company will seek shareholders approval through postal ballot,” eClerx Services said in a regulatory filing.
The promoters held 53.26% stake in the company which engaged in data analytics and process outsourcing service at the end of March quarter.
A combined around 5,600 shares have changed hands on the counter in early morning deals on BSE and NSE.
The board of directors at its meeting held on Tuesday, April 9, has approved amendment of article enabling buy-back of as much as 10% of shares of the total paid-up equity capital and free reserves of the company.
“The company will seek shareholders approval through postal ballot,” eClerx Services said in a regulatory filing.
The promoters held 53.26% stake in the company which engaged in data analytics and process outsourcing service at the end of March quarter.
A combined around 5,600 shares have changed hands on the counter in early morning deals on BSE and NSE.