Zensar Technologies to buy back 24.24 lk shrs at Rs 165/sh; to shell out Rs 40 Cr at 100% acceptance; stock rallies
Zensar Technologies has gone up 36% in last 2 weeks. Its buyback will open on November 16 and will close on November 30. Shares will be extinguished by December 17. There will be buyback of 24.24 lakh shares at Rs 165 by the company. Tender offer is for buyback of 10.11% of company’s equity. Zensar will have to shell out Rs 40 crore at 100% acceptance of the offer.
Zensar Technologies touched a 52 week high of Rs 281.70 in today’s trade. the stock touched an intra day high of Rs 281.70 and an intra day low of Rs 261 and at 15:02 PM, the share was quoting at Rs 270.00, up Rs 12.85, or 5.00%, trading with volumes of 110,582 shares, compared to its 5-day average of 61,378 shares, an increase of 80.16%. Yesterday the share closed up 0.63% or Rs 1.60 at Rs 257.15.
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Dear viewers,
whether company making shareholders foolish ie buy back at discount price