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You are here » Indian-Commodity  :  Equity & Shares  :  Sasken Technologies shines on getting nod to buyback 11.68% stake for Rs 169.88 crore

24-Apr2019

Sasken Technologies shines on getting nod to buyback 11.68% stake for Rs 169.88 crore

Sasken Technologies is currently trading at Rs. 746.00, up by 38.25 points or 5.40% from its previous closing of Rs. 707.75 on the BSE.

The scrip opened at Rs. 746.95 and has touched a high and low of Rs. 749.20 and Rs. 728.10 respectively. So far 10821 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1140.00 on 14-Jun-2018 and a 52 week low of Rs. 571.45 on 15-Feb-2019.

Last one week high and low of the scrip stood at Rs. 749.20 and Rs. 672.25 respectively. The current market cap of the company is Rs. 1276.41 crore.

The promoters holding in the company stood at 42.40%, while Institutions and Non-Institutions held 18.80% and 38.79% respectively.

Sasken Technologies has received approval to Buy-back up to 19,98,678 fully paid up Equity Shares of the Company having face value of Rs 10 each representing 11.68% of the total number of equity shares of the Company at a price not exceeding Rs 850 per Equity Share payable in cash for a total consideration not exceeding Rs 169.88 crore which is 24.96% and 25.00% of the total paid-up equity capital and free reserves. The Board of Directors of the Company at its meeting held on April 23, 2019 has approved the same.

Sasken Technologies offers a range of services in areas of research & development consultancy, wireless software products and software services, and works with network OEMs, semiconductor vendors, terminal device OEMs and operators across the world.


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