Sandesh Limited has tanked almost 15% to Rs 305 on BSE in early morning deals, after its board fixed a maximum buyback price at Rs 302 per share through tender offer.

Sandesh Limited has rallied 7% to Rs 354, extending its previous day’s 20% surge, ahead of board meeting tomorrow to consider the share buyback proposal.

Sandesh Limited has locked in upper circuit of 20% at Rs 331 after the company engaged in publishing newspapers announced buyback of equity shares.

Sandesh Ltd is frozen at the upper circuit limit filter of 20% at Rs 302 after reporting a 43% jump in net profit at Rs 15 crore for the third quarter ended December 2010. The company, which is a leading publication house from Gujarat, had posted a net