Mindtree board of directors to consider buyback proposal

Mindtree informed the bourses on Thursday that a meeting of the board of directors is scheduled to take place on June 28, 2017 to consider the proposal to buyback the fully paid-up equity shares.

Mindtree Limited, an international information technology (IT) implementation and consulting company, delivers business solutions through global software development. The company operates in two segments, Product Engineering (PE) Services and Information Technology (IT) Services.
 
At Rs 530.90 per share at 1126 hours on BSE, Mindtree was trading higher by 1.9%. The stock witnessed a spurt in the volume by more than 2.14 times. It hit a high of Rs 534.90 and a low of Rs 525.45 so far during the day.
 
The stock has underperformed both BSE mid-cap and BSE IT index over a period of one year. Its closest peers include L&T Infotech and Vakrangee.