Edelweiss Financial Services jumped 4.86% to Rs 34.50 at 10:33 IST on BSE after the company said its board of directors will meet on Wednesday, 23 April 2014, to consider buy-back of equity shares of the company.
The announcement was made after market hours on Thursday, 17 April 2014.
Meanwhile, the S&P BSE Sensex was up 63.08 points or 0.28% at 22,691.92.
On BSE, so far 1.61 lakh shares were traded in the counter as against average daily volume of 57,124 shares in the past one quarter.
The stock hit a high of Rs 34.75 and a low of Rs 33.70 so far during the day. The stock had hit a 52-week high of Rs 35 on 30 September 2013. The stock had hit a 52-week low of Rs 24.90 on 26 November 2013.
The stock had outperformed the market over the past one month till 17 April 2014, advancing 10.4% compared with the Sensex's 3.76% rise. The scrip had also outperformed the market in past one quarter, jumping 16.25% as against Sensex's 7.43% rise.
The small-cap company has equity capital of Rs 76.91 crore. Face value per share is Re 1.
Edelweiss Financial Services' consolidated net profit surged 25.5% to Rs 57.80 crore on 19.6% growth in total income to Rs 645.01 crore in Q3 December 2013 over Q3 December 2012.
Edelweiss is one of India's leading diversified financial services group. Edelweiss offers a large range of products and services spanning across asset classes and consumer segments.
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