Navneet Education spurts after buyback plan

Navneet Education surged 5.46% to Rs 124.60 at 09:25 IST on BSE after the company scheduled a board meeting on 20 August 2018 to consider and approve proposal of buyback of equity shares of the company.

The announcement was made after market hours yesterday, 13 August 2018.

Meanwhile, the S&P BSE Sensex was up 136.79 points or 0.36% at 37,781.69

On the BSE, 71,000 shares were traded on the counter so far against the average daily volumes of 44,000 shares in the past two weeks. The stock had hit a high of Rs 127.05 and a low of Rs 120.35 so far during the day. The stock had hit a 52-week high of Rs 179.85 on 18 September 2017 and a 52-week low of Rs 108.60 on 27 July 2018.

Navneet Education reported 15.18% rise in net profit to Rs 126.29 crore on 17.72% growth in total income to Rs 677.05 crore in Q1 June 2018 over Q1 June 2017.

Navneet Education, formerly known as Navneet Publications (India), is in the business of educational, children and general books publication, scholastic paper and non-paper stationery products.

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