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R Systems International has rallied 11% to Rs 91.40 on National Stock Exchange (NSE) after the company said its board approved the buyback of equity shares of the company at a maximum price of Rs 100 per share.
The stock opened at Rs 86.35 and hit a fresh 52-week high of Rs 95 on NSE. The trading volumes on the counter nearly doubled with a combined 645,701 shares changed hands till 0954 hours on NSE and BSE.
The company proposed to buyback a 9.5 million equity shares and the total consideration amount for buyback shall not exceed Rs 6 crore, R Systems International said in a BSE filing.
The buyback price per equity share shall not exceed Rs 100 per equity share, it added.
Meanwhile, the board also approved the payment of fourth interim (special) dividend for the year 2014 at the rate of Rs 2.55 per equity share of Re 1 each. The same will be paid on January 12, 2015, it added.
The stock opened at Rs 86.35 and hit a fresh 52-week high of Rs 95 on NSE. The trading volumes on the counter nearly doubled with a combined 645,701 shares changed hands till 0954 hours on NSE and BSE.
The company proposed to buyback a 9.5 million equity shares and the total consideration amount for buyback shall not exceed Rs 6 crore, R Systems International said in a BSE filing.
The buyback price per equity share shall not exceed Rs 100 per equity share, it added.
Meanwhile, the board also approved the payment of fourth interim (special) dividend for the year 2014 at the rate of Rs 2.55 per equity share of Re 1 each. The same will be paid on January 12, 2015, it added.
