300 per cent returns: Board announced buyback of shares worth Rs 374.80 crore!

Shares of this company have gained more than 30 per cent in the last six months.

BSE Limited informed in the exchange filing that the company’s board considered and approved the proposal for buyback of fully paid-up equity shares of the company having a face value of Rs 2.00 (“Equity Shares”) and from all shareholders/ or beneficial owners of the equity shares of the company, as on a record date, to be subsequently decided by the Board/Buyback Committee, through the tender offer route, on a proportionate basis, using the mechanism for acquisition of shares through stock exchange as prescribed under Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018.

The company posted impressive Quarterly Results. In Q4FY23, the revenue of the company stood at Rs 227.01 crore which grew by 10.96 per cent YoY. The operating profit of the company stood at Rs 139.73 crore, growing 55.72 per cent YoY, while the PAT of the company grew by 43.26 per cent YoY, staying at Rs 79.44 crore.

Bombay Stock Exchange (BSE Ltd) is an Indian Stock Exchange located at Dalal Street in Mumbai. The company facilitates a market for trading in equity, currencies, debt instruments, derivatives, and mutual funds.

On Friday, the stock opened at Rs 707.75, with a high and low of Rs 719.80 and Rs 705.00. The stock is currently trading at Rs 713.10, up by 1.08 per cent. The stock has delivered multibagger returns of more than 300 per cent in the last three years and investors should keep a close eye on this stock.