Majesco share price scaled upper circuit of 5% today after the firm said its board will consider buyback of shares.
"The meeting of the board of directors of the company is scheduled to be held on October 8, 2020, to consider proposal for buyback of fully paid-up equity shares of the company," the company said
Majesco stock price opened with a gain of 5% today and touched an intraday high of Rs 858.95 and low of Rs 847 against last close of Rs 818.05 on BSE.
Majesco stock has been highly volatile today and gained after 2 days of consecutive fall. Majesco share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. There are only buyers bidding and no sellers offering the stock.
Majesco shares have risen 4% in one week, 13% in one month and 125% since the beginning of the year. Market capitalisation of the firm stood at Rs 2,556.73 crore as of today's session.
"Pursuant to the Company's Code of Conduct for Prohibition of Insider Trading, the trading window for transacting in the securities of the Company would remain closed until October 10, 2020," the filing added later.