Marathon Nextgen Realty surges on share buyback plan
The stock surged 18% to Rs 264 on BSE on back of heavy volumes
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Marathon Nextgen Realty surged 18% to Rs 264 on BSE in intra-day trade after the real estate developer said that it board will meet on Friday to consider share buyback proposal.
“A meeting of board of directors of the company is scheduled to be held on March 17, 2017, to consider the proposal of buy-back of equity shares of the company and new project proposal,” Marathon Nextgen Realty said in a BSE filing.
As of December 31, 2016, the promoters held 75% stake in the company. The remaining holdings or 23.22% stake are with the individual shareholders.
Vijay Mohanlal Parekh, Paresh Mohanlal Parekh, Sharaddha Sudhir Valia and Khyati Sudhir Valia are holding more than 2% stake each in Marathon Nextgen Realty, the shareholding pattern data shows.
In past six months, the stock had underperformed the market by falling 19% as compared to 0.52% rise in the S&P BSE Sensex, till Friday, March 10, 2017.
At 11:34 am; the stock was up 17% at Rs 261 on back of an over 10-fold jump in trading volumes. A combined 145,271 shares changed hands on the counter on BSE and NSE so far.
“A meeting of board of directors of the company is scheduled to be held on March 17, 2017, to consider the proposal of buy-back of equity shares of the company and new project proposal,” Marathon Nextgen Realty said in a BSE filing.
As of December 31, 2016, the promoters held 75% stake in the company. The remaining holdings or 23.22% stake are with the individual shareholders.
Vijay Mohanlal Parekh, Paresh Mohanlal Parekh, Sharaddha Sudhir Valia and Khyati Sudhir Valia are holding more than 2% stake each in Marathon Nextgen Realty, the shareholding pattern data shows.
In past six months, the stock had underperformed the market by falling 19% as compared to 0.52% rise in the S&P BSE Sensex, till Friday, March 10, 2017.
At 11:34 am; the stock was up 17% at Rs 261 on back of an over 10-fold jump in trading volumes. A combined 145,271 shares changed hands on the counter on BSE and NSE so far.