 "Just Dial extends fall; down 5%")
Just Dial has dipped 6% to Rs 863, extending its past four day’s decline on the BSE, after the stock today turned ex-date for buy back of shares.
The company said that it has filed the draft letter of offer for buy-back of equity shares of the company with Securities and Exchange Board of India (Sebi) on December 02, 2015.
Just Dial is plans to buy back up to 1.06 million equity shares aggregating upto 1.5% at a price of Rs 1,550 share on proportionate basis through the tender offer route.
The company said the buyback is being undertaken by the company to return surplus funds to its shareholders. It has fixed the record date as December 4.
In past one-week the stock has declined 10% from Rs 962 as compared to a marginal 0.06% rise in the S&P BSE Sensex. Thus far in 2015, it dipped 36% from Rs 1,352 against 5% declined in the benchmark index.
At 11:19 AM, the stock was down 5% at Rs 871 on the BSE. A combined 791,136 shares changed hands on the counter on the BSE and NSE.
The company said that it has filed the draft letter of offer for buy-back of equity shares of the company with Securities and Exchange Board of India (Sebi) on December 02, 2015.
Just Dial is plans to buy back up to 1.06 million equity shares aggregating upto 1.5% at a price of Rs 1,550 share on proportionate basis through the tender offer route.
The company said the buyback is being undertaken by the company to return surplus funds to its shareholders. It has fixed the record date as December 4.
In past one-week the stock has declined 10% from Rs 962 as compared to a marginal 0.06% rise in the S&P BSE Sensex. Thus far in 2015, it dipped 36% from Rs 1,352 against 5% declined in the benchmark index.
At 11:19 AM, the stock was down 5% at Rs 871 on the BSE. A combined 791,136 shares changed hands on the counter on the BSE and NSE.