 "OnMobile Global gains on share buyback plan")
OnMobile Global has moved higher by 7% to Rs 140 on the BSE after the company announced share buyback plan.
“A meeting of the board of directors of the company will be held on February 04, 2016, to consider a proposal of buyback of equity shares of the company,” OnMobile Global said in a BSE filing.
In past two weeks, the stock zoomed 52% from Rs 92 on January 18, as compared to 3% rise in the S&P BSE Sensex.
Last week, on January 28, the company announced that it had secured a three year deal from Reliance Communications (RCom) to provide Ring Back Tones to its customers on GSM and CDMA networks across India.
The company engaged in providing value added services in telecom business, on January 19 said that it has bagged a three years renewal for its Ring Back Tone (RBT) offering with Bharat Sanchar Nigam Limited (BSNL) in South & East Zone with an option to extend for the fourth year as well.
At 02:40 PM, the stock was up 3% at Rs 134 on the BSE on back of two-fold jump in trading volumes. A combined 3.99 million shares changed hands on the BSE and NSE.
“A meeting of the board of directors of the company will be held on February 04, 2016, to consider a proposal of buyback of equity shares of the company,” OnMobile Global said in a BSE filing.
In past two weeks, the stock zoomed 52% from Rs 92 on January 18, as compared to 3% rise in the S&P BSE Sensex.
Last week, on January 28, the company announced that it had secured a three year deal from Reliance Communications (RCom) to provide Ring Back Tones to its customers on GSM and CDMA networks across India.
The company engaged in providing value added services in telecom business, on January 19 said that it has bagged a three years renewal for its Ring Back Tone (RBT) offering with Bharat Sanchar Nigam Limited (BSNL) in South & East Zone with an option to extend for the fourth year as well.
At 02:40 PM, the stock was up 3% at Rs 134 on the BSE on back of two-fold jump in trading volumes. A combined 3.99 million shares changed hands on the BSE and NSE.