Shares of ratings agency Crisil surged by as much as 15 per cent to a 52-week high in morning trade on the BSE today after the company said it will consider a buyback issue on October 18.
In a regulatory filing, the company said that a meeting of the board of directors of the company will be held on October 18 to consider the proposal to buyback the fully paid equity shares of the company.
The buyback issue will be subject to shareholders’ approval.
Reacting to the development, the scrip jumped 15.01 per cent to a 52-week high of Rs 945 on the BSE and 14 per cent to a high of Rs 936.70 on the National Stock Exchange.
The scrip however, saw some of the initial gains pared in later trade and was being quoted at Rs 917.55 on the BSE, higher by 11.68 per cent, and at Rs 917.40 on the NSE, up by 11.66 per cent.
The uptrend in the counter was in line with the broader market sentiment, with the 30-share benchmark index trading with gains of 71.60 points at 16,955.52 and the wide-based Nifty quoted at 5,099.10, higher by 21.25 points.