Buy Back of Shares: E Clerx announces share buyback price at Rs 2850 per share
The share of e-Clerx, the process management and data analytics form closed at record highs on Friday, on closing basis when the frontline indices slipped into the red.
The shares of e-Clerx turned ex-dividend on September 16. The dividend announced was Rs 1 per share.
Dividends is not the only positive news for the shareholders of e-Clerx. The real positive news is the share buy back price declared at Rs 2850 per share which works out to be a 18 per cent premium to its Friday closing price. The company announced on Friday late evening on bourses that it will buy back its shares at Rs 2850 per share with aggregate amount not exceeding above Rs 303 crore. Thus, the buyback size of the issue is Rs 303 crore. The stock of e-Clerx is in an intermediate uptrend. The stock closed at its all-time high levels if we consider the closing prices.
The stock is up by more than 6 per cent in one month. The stock is a multibagger having jumped higher by 171 per cent in 2021 alone. In one year, itself the stock is up by 227 per cent.