BSE’s share had closed at Rs 705.40 on July 6 when the company announced the buyback offer. Since then the stock price has moved over 52% or by Rs 370 per share.
At 11 am today, the stock was trading at Rs 1,075. It hit its 52-week high of Rs 1,093 on the NSE today, gaining nearly 3% over the previous closing price of Rs 1,062.75. With today’s rally, the stock has remained undefeated for seven consecutive trading sessions.
India’s oldest exchange plans to buy 3,470,370 equity shares which represents 2.56% of the total paid-up equity capital of the company as of March 31, 2023, the exchange filing said.
The record date for the purpose of determining the entitlement and the names of the shareholders who will be eligible to participate in the proposed buyback has been kept as September 14, 2023.
The multibagger stock has returned nearly 140% in the last six months as against 11% returns given by the Nifty50.
BSE said its June quarter consolidated net profit stood at Rs 440 crore, witnessing a whopping 1,000% jump year-on-year. The profit was at Rs 40 crore in the same quarter last year. Revenue from operations during the April-June period was up 15% to Rs 216 crore, compared with Rs 187 crore in the corresponding period of the previous year.The jump in net profit was due to an exceptional item. During the first quarter, the company divested its 5% stake in its associate company CDSL to meet Sebi norms in this regard. The profit on divestment amounted to Rs 406.6 crore.
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