With reference to the previous letter dated August 09, 2016, Infinite Computer Ltd has also disclosed that a proposal for buy-back of equity shares via Tender Offer route, up to an amount of the aggregate of Company’s paid up equity share capital and free reserves as the Board may decide accordingly with the provisions of Sections 68 of the Companies Act, 2013 and the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 will be laid before the Board on August 24, 2016 for review and approval.
This morning saw Infinite Computer share price zooming up by 7%. The stock opened at Rs.204.70 as compared to its previous closing at Rs.199.90. The stock touched the day’s high and low at Rs. 217 and Rs.204.70. Approximately 82K shares are traded in the counter with a traded value of Rs.175.17, as per NSE. The stock saw a spurt in volume by more than 4.82 times.
As of now Infinite Computer share price is trading at Rs.214.05. The lower price band of the share is Rs. 159.95 and the upper price band is Rs.239.85. The 52 week high of Infinite Computer share price is observed at Rs.267.50 on 12th Jan ’16 while the 52 week low is seen at Rs. 141.45 on 8th Sep ‘15. The Average Daily Movement of the stock is 9.34 and its average volume for last 20 days is 11605. The stock yields -2.51% monthly returns and has the PE ratio of 6.66. The market cap of the company amounts to Rs. 801.96 (Cr) and has a book value of Rs. 197.28.
In order to gain further details on the support and resistance refer to Infinite Computer share price forecast.
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