Like the market, SIS Ltd is having a pretty volatile day. From its close of Rs.426.15, it opened over 3% higher and surged over 9% to hit an intraday high at Rs.465. This level profit booking pummeled the stock down to Rs.431.80 and now is trading around the same levels.
Security Intelligence Services or SIS as is known, yesterday announced a buyback of 18.18 lakh shares or 1.24% of the total paid-up equity capital.
The buyback price has been set at Rs.550, a premium of 29% over yesterday’s close.
Currently, promoters hold 73.10% stake, FIIs hold 14.43%, Financial institutions hold 6.57% and public float is 5.9%.