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BSE   14 Jun 19 | 12:00 AM

8.65 -0.45 (-4.95%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 517214
Face Value: N.A.

NSE   14 Jun 19 | 12:00 AM

8.30 -0.4 (-4.6%)
Mkt Price (Rs)   Chg Rs (Chg %)
1 Week : Rs 9.49 (-8.85%)
1 Month : Rs 6.94 (24.64%)
1 Year : Rs 14.10 (-38.65%)
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S Mobility surges as board approves share buyback proposal

SI Reporter / Mumbai 20 Jun 13 | 10:56 AM

S Mobility is locked in upper circuit of 5% at Rs 37.10 on NSE after its board approved buyback of the company’s shares at maximum price of Rs 75 per share.

S Mobility will buyback a maximum of 11 million equity shares for an aggregate amount not exceeding Rs 60 crore from the open market through stock exchange mechanism, the company said in a filing.

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As on March 31, 2013, the promoter held 71.17% stake in the company. The foreign institutional investors held 4.89% stake, followed by individual shareholders (2.64%) and bodies corporate (1.41%), while the remaining 19.89% stake are with trusts and others.

Meanwhile, the stock has rallied 21% in past four trading sessions after the telecom equipment maker said that it board will consider a proposal for buy-back of equity shares of the company.

A combined 7,152 shares have changed hands on the counter and there are pending buy orders for 8,972 shares on NSE and BSE at 1056 hours.

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