India's Teamlease Service climbs on share buyback approval

Teamlease Services

03/02/2023 07:43

** Shares of Teamlease Services  TLSV.NS  rise as much as
5.5% to 2,372.5 rupees, with trade volume over 2x the 30-day avg
    ** Human resource services provider approves share buyback
of up to 1 billion Indian rupees ($12.16 million) at 3,050
rupees each through tender offer
    ** Stock has been trading below its 50-day, 100-day and
200-day moving avgs since Jan. 19
    ** Five of 12 brokerages rate stock 'buy' or 'strong buy,'
four 'hold' and three 'sell' or 'strong sell;' median PT is 2790
rupees - Refinitiv data
    ** Stock fell 8.8% in January 2023 and 39.4% in 2022
    ($1 = 82.2250 Indian rupees)
 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com; +91 8075473630;))