Sandesh Limited has rallied 7% to Rs 354, extending its previous day’s 20% surge, ahead of board meeting tomorrow to consider the share buyback proposal.
“The board of directors of the company will meet on January 16, 2013, to consider the proposal for buyback of equity shares of the company and constitution of buyback committee," the company engaged in publishing newspapers said in a statement.
The stock opened at Rs 342 and hit a high of Rs 374, has rallied 36% in past two-trading sessions on NSE. As many as a combined 74,893 shares have changed hands on the counter so far, as against an average of lkess than 5,000 shares that were traded daily in past two weeks.