Nucleus Software Ltd. said on Thursday that it will buy equity shares up to a maximum value of ₹72.4 crore. However, after the announcement, shares have dropped more than 5%.

Nucleus Software plans to buy back up to 4.48 lakh equity shares with a face value of ₹10, representing 1.67% of its total equity. The buyback price is set at ₹1,615 per share, a 6% premium to the company’s current market levels.

The record date for the share buyback has been set by Nucleus Software for September 3, 2024. A timetable for the buyback has not yet been disclosed by the firm.

As of 2:31 pm, Nucleus Software shares were trading 6.29% lower at Rs 1,428.30 on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

The shares of Nucleus Software increased by 5% in early trading today, following a 15% increase yesterday, August 20, after the company’s announcement of buyback plans. Nucleus Software’s stock is seeing a lot of market movement as of 10:40 AM today. The stock showed a significant rise from the previous closing of ₹1,410.05.

Nucleus Software Exports’ board will hold a board meeting on August 22, 2024, to evaluate and approve a buyback proposal for equity shares.

This will be Nucleus Software’s third buyback, following those in 2017 and 2021. In 2021, the company did a buyback of 22.67  lakh shares for Rs 700 per share.

As of 10:43 am, Nucleus Software shares were trading 5.42% higher at Rs 1,486.45 on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

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.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

Nucleus Software Exports shares fell 15% in intraday trading, reaching a 9-week low of Rs 1280.75. This fall comes after the company’s poor June quarter earnings, which were released on Saturday.

Nucleus Software reported consolidated revenue of Rs 195.4 crore for the quarter that ended in June, which is a decrease from ₹206.8 crore in Q1 FY24. In Q1 FY24, the consolidated PAT was ₹53.6 crore, whereas it now stands at ₹30.2 crore. In the previous quarter, the firm had a net profit of ₹52 crore.

Mr. Vishnu R Dusad, co-founder and managing director of Nucleus Software, spoke on the results, saying, “We started our financial year with a full commitment towards lean implementation and adoption. For the first quarter of FY 2024–25, our focus has been on implementing and adopting lean principles in product development and relevant functions.”

As of 10:44 am, Nucleus Software shares were trading 13.85% lower at ₹1,295.00 on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.