Jagran Prakashan shines on buyback plan

Jagran Prakashan soared 13.4% to Rs 55.4 after the company said its board will consider a share buyback on 2 March 2021.

In a BSE filing made on Saturday (20 February), the company said, the board of directors of Jagran Prakashan is scheduled to be held on Tuesday, 2 March 2021, inter-alia, to consider the proposal for buyback of the fully paid-up equity shares of the Company, as well as matters related/ incidental thereto.

Jagran Prakashan is a media and communications company with interests in print, digital, radio, out-of-home (OOH) and activation.

On a consolidated basis, the company reported a 5.8% fall in net profit to Rs 76.91 crore on a 27.2% fall in net sales to Rs 402.61 crore in Q3 FY21 over Q3 FY20.

 

In the past one year, the stock has declined 22.46%, while the benchmark Sensex has added 23.63% during the same period.

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