Shares of Smartlink Holdings touched 52-week high of Rs 109.80, rising 16 percent intraday Friday after company approved buyback of shares.
The company board approved the buyback proposal of its own fully paid equity shares of Rs 2 from the equity shareholders of the company.
The record date to be announced later for the buyback not exceeding 42,00,000 equity shares (approximately being 24.78%) at a price not exceeding Rs 130 per equity share for an aggregate amount not exceeding Rs 54,60,00,000.
At 14:10 hrs Smartlink Holdings was quoting at Rs 109.60, up Rs 12.80, or 13.22 percent on the BSE.
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