Eclerx falls to over 1-mth low after finalising $36 mln buyback

eClerx Services

15/12/2022 09:30

** Shares of Eclerx Services  ECLE.NS  fell nearly 2% to an
over one-month low of 1372.55 rupees per share
    ** The Maharashtra-based IT consulting and outsourcing firm
announced a final buyback price of 1,750 rupees, aggregating to 
3 billion rupees ($36.26 million) (buyback size)
    ** The record date to determine eligible shareholders fixed
for Dec. 27 
    ** The final buyback price is 26.82% higher than the current
price of 1,379.90 rupees
    ** On Nov. 10, the company had approved share buyback
proposal worth 3 billion rupees, fixing maximum price at 1,900
rupees 
    ** The company did not immediately respond to a request for
comment from Reuters
    ** On Nov. 11, stock rose to its highest in a month -
1,494.90 rupees - up 8.77% from Nov. 10 close
($1 = 82.7425 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))