Jagran Prakashan Limited informed the exchanges Saturday that its Board of Directors will meet on March 02, 2021, to consider the proposal for buyback of the fully paid-up equity shares of the company.
The company stock was in demand during early deals on Monday. Each stock was trading at Rs56.00 per piece up Rs7.15 or 14.64% (around 9.40 am) from its previous closing of Rs48.85 per piece on the BSE.
The scrip opened at Rs55 and has touched a high and low of Rs57.65 and Rs53.90 respectively.
The trading window has been closed from February 20, 2021, till the conclusion of 48 hours from the conclusion of the Board Meeting to be held on March 02, 2021.
The company’s Q3FY21 net profit rose 7% to Rs83cr in the quarterly results announced a fortnight ago. The company’s operating revenue in Q3FY21 was at Rs351.80cr as against Rs465.91cr in Q3FY20. Advertisement revenues of the company stood at Rs244.87cr as against Rs321.43cr.