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The company has fixed May 10 as the record date for the purpose of ascertaining the eligibility of shareholders for the proposed buyback. The company will announce the process, and timelines for the same in due course.

Total income for the fourth quarter grew 25% to Rs 51.33 crore, while revenue from operations recorded an 18% increase to Rs 45.36 crore. Operating profit for the quarter rose to Rs 4.25 crore from Rs 1.96 crore.

See NPS if I have to put the non-government sector, during the last financial year that 2022-23, we crossed the landmark of 10 lakhs which is the corporate sector.

Sources familiar with the matter said the positive cash flow trajectory is expected to continue into the first quarter of financial year 2024. The company’s cash corpus on the balance sheet is Rs 2700 crore.

According to Tushar Bohra, a new cycle has started in industries such as defence, capital goods, manufacturing and railways, while a fresh cycle has begun in pharma and will start in IT soon. Valuations remain attractive in infrastructure for potential long-term investment opportunities. Bohra suggests that it is time to be selective and conduct thorough research into fintech and consumer tech stocks as some franchises are showing strength, whilst it is not necessarily the time to act across the board in these sectors.

Oil prices have fallen to $78 per barrel, below the level recorded when OPEC+ announced production cuts back in April. The fall reflects fears over a US recession, with strong production and exports from Russia supplying India and China with record volumes of Russian oil. While the price fall may not immediately affect consumer fuel costs, it will benefit global economies fighting inflation. State oil companies will also benefit, after having absorbed oil price losses for the past year. Falling crude prices will also bring down domestic natural gas prices, which are indexed to Brent.

The company is focused on prudent capital allocation, UV differentiation & EV proactiveness.

A total of 164,629 shares changed hands on the counter till 02:04PM (IST)

As of 31-Mar-2023, promoters held 63.21 per cent stake in the company, while FIIs held 23.72 per cent and domestic institutional investors had 3.88 per cent.

The stock quoted a 52-week high price of Rs 788.9 and a 52-week low of Rs 583.05.