Smartlink Network Systems zooms on share buyback plans

The board will meet on February 29, 2016 to consider buy-back of equity shares

Shares of Smartlink Network Systems zoomed nearly 18% to Rs 95 after the a meeting of the Board of Directors of the Company will be held on February 29, 2016 to consider the proposal to buy-back the fully paid-up equity shares.

Further, the "Trading Window" for the employees of Smartlink Network Systems Limited, in accordance the Insider Trading Code adopted by the Company pursuant to the Securities and Exchange Board of India Insider Trading) Regulations, 2015, will close on February 24, 2016 at 04.00 p.m. and shall re-open only 48 hours after announcement of outcome of the Board Meeting, the company said in a release.

The stock opened at Rs 88 and touched a high of Rs 96. At 11:30am, over 1.05 million shares were traded on both the stock exchanges.