Sandesh slipped into the negative zone for a brief while but ended flat at Rs 159. Around 1,160 shares were traded at the counter on the BSE today.
Jindal Poly plunged 9% from its high to a low of Rs 320. It finally ended near the day's low at Rs 322 - down 5%. The stock has slipped 10% in the past week. Around 22,174 shares were traded on the counter today.
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(Updated at 1259 hrs)
Sandesh has gained nearly 3% to a high of Rs 164, backed by its decision to initiate a share buy-back offer with a maximum spending of Rs 19.53 crore.
The counter has witnessed trades of around 750 shares against its two-week average traded quantity of 1,160 shares. The stock opened at Rs 160 today.
Sandesh announced the buy-back of shares at a price not exceeding Rs 180 per share. The company decided to initiate the buy-back of a maximum 10,85,000 equity shares and a minimum 2,00,000 number of shares.
The buy-back offer will open on April 13, 2009 and the last date for the buy-back is November 30, 2009.
Jindal Poly opened at Rs 340 today and touched a high of Rs 350, after the company decided to buy-back of shares with a maximum spending of Rs 73 crore.
The stock is now flat at Rs 338. The counter has witnessed volume of 13,499 shares, which is more than its two-week average traded quantity of 11,002 shares. The stock hit its life-time high at Rs 376, on August 5. The scrip has surged over 14% in a week
The company announced to initiate a buy-back of a maximum of 62,15,347 shares and a minimum of 2,00,000 shares with a price not exceeding Rs 400 per share.
