Justdial surges nearly 7% on share buyback plan

The company's board will consider a proposal for buyback of equity shares

The scrip of local search engine Justdial surged nearly 7 per cent on Thursday as the company's board will meet next week to consider a proposal for share buyback.

Shares of the company soared 6.69 per cent to settle at Rs 378.15 on BSE. During the day, it jumped 9.98 per cent to Rs 389.85.

At NSE, shares of the company went up sharply by 6.65 per cent to end at Rs 378.05.

On the volume front, 12.20 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.

"With reference to the earlier intimation of the meeting of the board of directors to be held on July 24, 2017... The board will also consider a proposal for buyback of equity shares of the company at the said meeting," Justdial said in a BSE filing today.
 

The company, however, did not elaborate on the quantum of the buyback.