Jai Corp stock set to trade ex-buyback on Tuesday

Jai Corp Ltd (JAICORPLTD) shares are set to trade ex-buyback on Tuesday, September 10. On Monday, the Jai Corp stock ended lower by Rs 3.6, or 1.0 per cent, at Rs 354.7 apiece on BSE. Earlier, the company announced a share buyback. 

What happens when a stock trades ex-buyback?

When a stock trades ex-buyback, it means the stock is traded without accounting for the upcoming share buyback program.

Investors must own the stock before this date to benefit from the buyback offer, which aims to reduce the number of shares outstanding and potentially increase the value of remaining shares.

Why does the ex-date matter? 

Investors must purchase the stock before the ex-date to qualify for corporate action such as a share buyback.

How Dalal Street fared on Monday 

Domestic equity benchmarks eked out gains to the tune of around half a per cent on Monday following three straight sessions of losses, with the Sensex rising 375.6 points to end at 81,559.5 and the Nifty50 gaining 84.3 points to 24,936.4.

While buying interest in financial services and FMCG shares aided the upmove in the main indices, selling pressure in spaces like IT and energy limited the upside. Read more on the September 9 session on Dalal Street | Stocks to track for next session

ALSO READ: Corporate Action | From dividend to bonus to split to buyback, stocks to trade ex-date this week

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