Shares of Nucleus Software Exports surged by 15% after the company announced that its Board of Directors would meet on August 22 to discuss a proposal for buying back equity shares. The stock saw a significant increase, rising 17.31% to ₹1,380 today from the previous close of ₹1,176.30 on the Bombay Stock Exchange (BSE).
Key Details
- Upcoming Meeting: Nucleus Software Exports will hold a board meeting on August 22, 2024, to consider and approve a buyback proposal for equity shares. The decision will be in line with the Companies Act, 2013, and relevant regulations by the Securities and Exchange Board of India (SEBI).
- Current Trading: As of 9:35 am, the shares were trading 14.45% higher at ₹1,344.80 on the National Stock Exchange (NSE).
Market Impact
- Stock Performance: The announcement led to a notable increase in share price, reflecting positive investor sentiment and confidence in the company’s strategic move.
- Market Capitalization: The company’s market cap currently stands at ₹3,634.08 crore.
