eClerx Services jumps on buyback plan

eClerx Services rose 4.72% to Rs 776 at 9:26 IST on BSE after the company said its board will consider share buyback on 8 August 2013.

The company made the announcement after market hours on Monday, 5 August 2013.

Meanwhile, the S&P BSE Sensex was down 120.26 points, or 0.63%, to 19,062.

On BSE, 1,504 shares were traded in the counter as against an average daily volume of 4,670 shares in the past one quarter.

The stock hit a high of Rs 777 and a low of Rs 764.05 so far during the day. The stock had hit a record high of Rs 900 on 14 September 2012. The stock had hit a 52-week low of Rs 599 on 25 March 2013.

The stock had outperformed the market over the past one month till 5 August 2013, sliding 0.22% compared with the Sensex's 1.61% fall. The scrip had also outperformed the market in past one quarter, rising 22.08% as against Sensex's 2.01% fall.

The small-cap company has an equity capital of Rs 30.09 crore. Face value per share is Rs 10.

The board of eClerx Services will meet on 8 August 2013 to consider a proposal for buyback of equity shares of the company.

The company has set aside approximately Rs 40.98 crore for the proposed buyback, which is 10% of the aggregate of total paid-up equity capital and free reserves of the company.

On a consolidated basis, eClerx Services' net profit jumped 28.11% to Rs 61.70 crore on 8.94% increase in net sales to Rs 189.92 crore in Q1 June 2013 over Q4 March 2013.

eClerx Services is a knowledge process outsourcing (KPO) company providing data analytics and customized process solutions to global enterprise clients.

Powered by Capital Market - Live News