Jagran Prakashan gains on buyback plan

Jagran Prakashan rose 2.33% to Rs 160 at 9:24 IST on BSE after the company said that its board will meet on Friday, 27 April 2018, to consider buyback of shares.

The announcement was made after market hours yesterday, 17 April 2018.

Meanwhile, the S&P BSE Sensex was up 27.82 points, or 0.08% to 34,422.88.

On the BSE, 25,000 shares were traded in the counter so far compared with average daily volumes of 2.09 lakh shares in the past two weeks. The stock had hit a high of Rs 164 and a low of Rs 158.50 so far during the day. The stock hit a 52-week high of Rs 208.55 on 18 April 2017. The stock hit a 52-week low of Rs 155.75 on 17 April 2018.

Jagran Prakashan's consolidated net profit fell 11.1% to Rs 87.23 crore on 0.6% decline in net sales to Rs 598.07 crore in Q3 December 2017 over Q3 December 2016.

Jagran Prakashan is a media conglomerate with interests spanning across printing and publication of newspapers & magazines, FM radio, digital, outdoor advertising and promotional marketing / event management / on ground activation businesses.

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