IndiaMART InterMESH stock rises 7% as board to consider share buyback on April 28
IndiaMART InterMESH stock gained 6.98 per cent to Rs 5144.95 today against the previous close of Rs 4809.20 on BSE.
- Apr 26, 2022,
- Updated Apr 26, 2022 2:24 PM IST
Shares of IndiaMART InterMESH rose up to 7 per cent today after the firm said its board will consider a buyback of shares on April 28. IndiaMART InterMESH stock gained 6.98 per cent to Rs 5144.95 today against the previous close of Rs 4809.20 on BSE. IndiaMART InterMESH stock is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
The stock has lost 40.83 per cent in a year and fallen 27.3 per cent in 2022. Total 9422 shares of the firm changed hands amounting to a turnover of Rs 4.72 crore.
Market cap of the firm rose to Rs 15,157 crore on BSE.
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The mid cap stock rose to a 52-week high of Rs 9,700 and fell to a 52-week low of Rs 3965 on March 8, 2022.
"Pursuant to Regulation 29 of SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015, please be informed that the Board of Directors of IndiaMART InterMESH Limited (the 'Company'), will also consider the proposal for buyback of fully paid up equity shares of the Company, in accordance with the SEBI (Buy-back of Securities) Regulations, 2018 in their meeting scheduled to be held on Thursday, April 28, 2022," the company said in a communication to bourses.
The firm reported a 12.47 per cent fall in net profit of Rs 70.20 crore for the December quarter against profit after tax of Rs 80.20 crore during the corresponding quarter of the previous fiscal.
Sales rose 8.35 per cent to Rs 188.10 crore in the quarter ended December 2021 against Rs 173.60 crore in the corresponding quarter of previous fiscal.
In the last fiscal, net profit zoomed 89.82 per cent to Rs 279.80 crore as against Rs 147.40 crore during the previous fiscal ended March 2021.
Sales climbed 4.81 per cent to Rs 669.60 crore in the last fiscal as against Rs 638.90 crore during the previous fiscal ended March 2021.
IndiaMART InterMESH Limited is an India-based online business to business (B2B) marketplace. The company is an e-marketplace for business needs, which acts as an interactive hub for domestic and international buyers and suppliers. The company provides a platform for businesses to discover products and services of their choice and connect with relevant suppliers of such product and services.
Shares of IndiaMART InterMESH rose up to 7 per cent today after the firm said its board will consider a buyback of shares on April 28. IndiaMART InterMESH stock gained 6.98 per cent to Rs 5144.95 today against the previous close of Rs 4809.20 on BSE. IndiaMART InterMESH stock is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
The stock has lost 40.83 per cent in a year and fallen 27.3 per cent in 2022. Total 9422 shares of the firm changed hands amounting to a turnover of Rs 4.72 crore.
Market cap of the firm rose to Rs 15,157 crore on BSE.
Share Market LIVE: Sensex jumps 600 pts, Nifty nears 17,150; M&M gains 3%
The mid cap stock rose to a 52-week high of Rs 9,700 and fell to a 52-week low of Rs 3965 on March 8, 2022.
"Pursuant to Regulation 29 of SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015, please be informed that the Board of Directors of IndiaMART InterMESH Limited (the 'Company'), will also consider the proposal for buyback of fully paid up equity shares of the Company, in accordance with the SEBI (Buy-back of Securities) Regulations, 2018 in their meeting scheduled to be held on Thursday, April 28, 2022," the company said in a communication to bourses.
The firm reported a 12.47 per cent fall in net profit of Rs 70.20 crore for the December quarter against profit after tax of Rs 80.20 crore during the corresponding quarter of the previous fiscal.
Sales rose 8.35 per cent to Rs 188.10 crore in the quarter ended December 2021 against Rs 173.60 crore in the corresponding quarter of previous fiscal.
In the last fiscal, net profit zoomed 89.82 per cent to Rs 279.80 crore as against Rs 147.40 crore during the previous fiscal ended March 2021.
Sales climbed 4.81 per cent to Rs 669.60 crore in the last fiscal as against Rs 638.90 crore during the previous fiscal ended March 2021.
IndiaMART InterMESH Limited is an India-based online business to business (B2B) marketplace. The company is an e-marketplace for business needs, which acts as an interactive hub for domestic and international buyers and suppliers. The company provides a platform for businesses to discover products and services of their choice and connect with relevant suppliers of such product and services.