Shares of Nucleus Software Exportshit 20% upper circuit in intraday trading on Tuesday, August 20, after the firm stated that the board will meet later this week to approve buyback of shares.
In the exchange filing, the company shared, “This is to inform you that, pursuant to Regulation 29(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 a meeting of the Board of Directors of Nucleus Software Exports Limited (“the Company”) is scheduled to be held on August 22, 2024, to inter alia, consider the proposal for Buy Back of Equity Shares of the Company including matters related/incidental thereto in accordance with the applicable provisions under the Companies Act, 2013 (including the rules and regulations framed thereunder), Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended, and other applicable provisions.”
For Nucleus Software, this is the third share buyback after similar initiatives in 2017 and 2021.
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