InvestorQ : Why have the shares of Majesco rally so sharply on Friday, 09 October?
Lavanya Subramanian made post

Why have the shares of Majesco rally so sharply on Friday, 09 October?

Answer
user profile image
Anamika Sodhani answered.
3 weeks ago


Shares of Majesco hit a record high of Rs.889 on 09 October, much higher than its announced buyback price of Rs.845. The buyback entails a total of 74.7 lakh shares of the company representing 25% of the paid up capital.

A number of India companies have been opting for the buyback route in the last few weeks as it is seen as a more efficient and economical route of distributing cash to shareholders from a tax perspective.