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Nucleus Software gains after disclosing buyback date

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rose 1.05% to Rs 284.35 at 10:48 on after the company said its proposed share buyback will open on 16 August 2017.

The announcement was made after market hours yesterday, 9 August 2017.

Meanwhile, the S&P Sensex was down 114.84 points, or 0.36% to 31,899.35.

On the BSE, 1,841 shares were traded in the counter so far, compared with average daily volumes of 6,833 shares in the past one quarter. The stock had hit a high of Rs 289.30 and a low of Rs 283 so far during the day. The stock hit a 52-week high of Rs 343.90 on 22 May 2017. The stock hit a 52-week low of Rs 171 on 29 September 2016.

The stock had underperformed the market over the past one month till 8 August 2017, falling 9.08% compared with 0.94% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.28% as against Sensex's 5.84% rise. The scrip had outperformed the market in past one year, rising 45.69% as against Sensex's 13.99% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

said its share buyback will open on 16 August 2017 and close on 31 August 2017.

The board of directors of the company at a meeting held on 25 April 2017, approved buyback of upto 33.43 lakh equity shares representing upto 10.32% of the total paid-up equity share capital of the company. The buyback price is Rs 350 per share for an aggregate amount not exceeding Rs 117 crore which is 24.83% of the paid-up equity share capital and free reserves of the company for the financial year ended 31 March 2017.

On a consolidated basis, Exports' net profit fell 43.57% to Rs 11.51 crore on 0.67% increase in net sales to Rs 94.32 crore in Q1 June 2017 over Q4 March 2017.

Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 10:49 IST