Share Buyback: eClerx board approves share buy back at price not exceeding ~3200 per share
The share price of eClerx would be in focus next week as the company has announced a share buy back plan. The board of eClerx has approved buy back of fully paid-up equity shares of face value ~ 10 (Rupees Ten only) each of the Company ("Equity Shares") for an amount not exceeding ~ 3,030 Million (Rupees Three Thousand and Thirty Millions only).
The maximum share price for the buy back suggested in the press release by the company is ~Rs 3200 per share.
eClerx is yet another IT company that has chosen to bay back shares after Infosys and several other leading IT companies. The buy back of shares may lift the sentiment in eClerx.
The share price of eClerx have risen by 145 per cent in 2021 alone while in one year the share price of eClerx has jumped by over 200 per cent.
eClerx is an Indian IT consulting and outsourcing multinational company based in Mumbai and Pune.