Sasken Comm jumps as board mulls share buy-back

Sasken Communication Technologies spurted 6.04% to Rs 256.50 at 15:22 IST on BSE after the company said its board of directors will meet on 23 April 2015, inter alia, to consider a proposal for buy-back of equity shares of the company.

The announcement was made during market hours today, 20 April 2015.

Meanwhile, the S&P BSE Sensex was down 540.70 points or 1.9% at 27,901.40.

On BSE, so far 1.28 lakh shares were traded in the counter as against average daily volume of 26,687 shares in the past one quarter.

The stock hit a high of Rs 274.80 and a low of Rs 235.60 so far during the day. The stock had hit a 52-week high of Rs 353 on 10 September 2014. The stock had hit a 52-week low of Rs 176.20 on 25 March 2015.

The stock had outperformed the market over the past one month till 17 April 2015, surging 17.2% compared with Sensex's 1.02% fall. The scrip had, however, underperformed the market in past one quarter, sliding 5.95% as against Sensex's 1.14% rise.

The small-cap firm has equity capital of Rs 21.34 crore. Face value per share is Rs 10.

Sasken Communication Technologies' consolidated net profit fell 82.49% to Rs 16.13 crore on 0.81% decline in net sales to Rs 107.28 crore in Q3 December 2014 over Q2 September 2014.

Sasken provides Engineering R&D and Productized IT services to global tier 1 customers in the Communications & Devices, Retail, Insurance and Independent Software space.

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