India's Navneet Education jumps on plans to consider share buyback

Navneet Education

25/05/2021 06:06

** Indian educational books publisher and stationery
products maker's shares  NAVN.NS  gain as much as 10.7% to 88
rupees, highest since March 18
    ** NAVN on Monday said it would consider a share buyback
proposal at a board meeting on May 27, along with approval of
March-quarter results  urn:newsml:reuters.com:*:nFWN2NB0CI
    ** Co's last share buyback was on August 20, 2018, when
board approved buyback of up to 4.7 mln shares for 750 mln
rupees ($10.30 mln)
    ** Since then, up to Monday's close, NAVN stock had fallen
37.5%  
    ** More than 2.1 mln shares traded as of 0501 GMT, 8.3 times
30-day moving avg of ~256,000
    



($1 = 72.8240 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))