Jagran Prakashan gains on buyback proposal

Jagran Prakashan rose 3.69% to Rs 179.90 at 9:28 IST on BSE after the company said it has scheduled a board meeting on 5 January 2017, inter-alia, to consider the proposal for buy-back of shares.

The announcement was made after market hours yesterday, 29 December 2016.

Meanwhile, the S&P BSE Sensex was up 147.71 points or 0.56% at 26,513.86.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 40,230 shares in the past one quarter. The stock had hit a high of Rs 184.65 and a low of Rs 177.70 so far during the day.

 

The stock had hit a record high of Rs 213 on 8 September 2016 and a 52-week low of Rs 144 on 18 March 2016. It had outperformed the market over the past one month till 29 December 2016, advancing 0.99% compared with the Sensex's 0.11% fall. The scrip had, however, underperformed the market in past one quarter, declining 5.29% as against the Sensex's 5.25% fall.

The mid-cap company has equity capital of Rs 65.38 crore. Face value per share is Rs 2.

Jagran Prakashan's net profit rose 14.2% to Rs 75.46 crore on 6.6% growth in net sales to Rs 447.59 crore in Q2 September 2016 over Q2 September 2015.

Jagran Prakashan is a leading media and communications group with interests spanning across newspapers, radio, magazines, outdoor advertising, promotional marketing & event management, and digital businesses.

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