SIS rallied 6.34% to Rs 453.15 after the company said its board approved a proposal to buyback equity shares worth upto Rs 100 crore at Rs 550 each.
The company will buyback shares at Rs 550 each. The aggregate consideration of the buyback will not exceed Rs 99,99,99,550. The resultant equity shares to be bought back at the buyback offer price are 18,18,181 equity shares, representing 1.24% of the total number of equity shares in the total paid-up equity capital of the company as on 31 March 2020.
The board noted the intention of the promoters and members of the promoter group of the company to participatein the proposed buyback. As of 12 February 2021, the promoters & promoter group held 73.10% stake while foreign investors held 14.43% stake. The announcement was made after market hours yesterday, 15 February 2021.
SIS's consolidated net profit jumped 26.5% to Rs 99.02 crore on a 8.2% rise in net sales to Rs 2,357.51 crore in Q3 FY21 over Q3 FY20.
SIS is a market leader in security, facility management & cash logistics solutions with operations across India, Australia, Singapore and New Zealand.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU