S Mobility jumps on getting nod to buyback equity shares

20 Jun 2013 Evaluate

S Mobility is currently trading at Rs. 36.75, up by 1.75 points or 5.00% from its previous closing of Rs. 35.00 on the BSE.

The scrip opened at Rs. 36.75 and has touched a high and low of Rs. 36.75 and Rs. 36.75 respectively.

The BSE group 'B' stock of face value Rs. 3 has touched a 52 week high of Rs. 51.20 on 11-Jul-2012 and a 52 week low of Rs. 22.20 on 06-May-2013.

Last one week high and low of the scrip stood at Rs. 35.00 and Rs. 28.30 respectively. The current market cap of the company is Rs. 874.97 crore.

The promoters holding in the company stood at 71.17% while Institutions and Non-Institutions held 4.89% and 23.94% respectively.

S Mobility has received an approval to buy-back fully paid up equity shares of the face value of Rs 3 each from the open market through Stock Exchange mechanism at a price not exceeding Rs 75 per share for an aggregate amount not exceeding Rs 60 crore, subject to a maximum of 1,10,00,000 equity shares in accordance with the provisions contained in the Articles of Association, Section 77A, 77AA, 77B and other applicable provisions of the Companies Act, 1956 and the Securities and Exchange Board of India (Buy Back of Securities) Regulations 1998, including any statutory modifications and amendments thereto, for the time being in force.

The board of directors of the company at its meeting held on June 19, 2013 has approved for the same

S Mobility is engaged in manufacturing of mobile phones. The company offers a wide range of mobile handsets catering to all segments -- low, medium, high-end.

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