Hinduja Global Shares Buyback: HGSL approves buyback at Rs 1,700 per share — Check record date

Hinduja Global Solutions Limited will buyback shares worth Rs 1,020 crore at price of Rs 1,700 per share, the company said in its filing to the stock exchanges. The decision was taken in a board meeting held on Friday, 27 January.

Hinduja Global shares today ended at Rs 1,300 on the NSE and were down by Rs 4.45 or 0.34 per cent from the Wednesday closing price, tracking overall weakness in the domestic stock markets.

Hinduja Global Shares Buyback: Record Date

The record date for buyback is 6 March and nearly 60 lakh equity shares representing 24.59 per cent and 13.43 per cent of the aggregate of the fully paid-up equity share capital and free reserves will be on the block, the exchange filing said.

Indian frontline indices S&P BSE Sensex and NSE Nifty50 hit 3 month lows on Friday due to the aftereffects of the Hindenburg Research report on the Adani Group companies. While BSE ended at 59,330.90, down 874.16 points or 1.45 per cent, the broader market Nifty50 settled at 17,604.35, lower by 287.60 points or 1.61 per cent. Banking gauge Nifty Bank tanked 1,302 points or over 3 per cent to finish at 40,345.30.

Markets were shut on Thursday on account of Republic Day.

Hinduja Global Shares: Performance

Hinduja Global Solutions stock has outperformed the broader market Nifty50 by 1.5 per cent over a 1-year period and has given returns of 4.4 per cent as against 2.9 per cent returned by the 50-share index. The stock is trading at a Price-to-Book (PB) value of 0.70, according to data sourced from Trendlyne.

One-year beta, a measure of volatility in the stock is 0.84, which is considered low. A level below 1 is seen as less volatile.

The 52-week high for this stock is Rs 2,820 which it hit on 18 February, 2022, while the 52-week low is Rs 846, which was hit on 13 May, 2022.