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Infinite Computer surges on plan to buyback 6.89% stake from open market

06 Jun 2013

Infinite Computer Solutions (India) is currently trading at Rs. 93.80, up by 1.10 points or 1.19% from its previous closing of Rs. 92.70 on the BSE.

The scrip opened at Rs. 95.35 and has touched a high and low of Rs. 97.10 and Rs. 93.35 respectively. So far 45513 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 166.85 on 19-Nov-2012 and a 52 week low of Rs. 80.00 on 20-May-2013.

Last one week high and low of the scrip stood at Rs. 97.75 and Rs. 89.00 respectively. The current market cap of the company is Rs. 399.21 crore.

The promoters holding in the company stood at 67.47% while Institutions and Non-Institutions held 11.55% and 20.97% respectively.

Infinite Computer Solutions (India), a global service provider of infrastructure management, would be buying back shares from the existing owners of shares from open market through stock exchanges at a price not exceeding Rs 120 a share payable in cash for an aggregate amount not exceeding Rs 30 crore. The offer size constitutes 6.89% of the aggregate of the company's paid up equity capital and free reserves as on 31 March 2013. The company’s board of directors at their meeting held on June 05, 2013 approved the buy-back.

As per the current shareholding pattern, the promoters hold 67.47% stake in the company. Individual investors hold 14.86% holding, followed by foreign institutional investors (10.48%), non-resident Indians (4.34%), bodies corporate (1.05%) and while others hold 1.8% stake.

Infinite Computer Solution has three main service offerings - Infrastructure Management, Intellectual Property (IP) leveraged solutions and IT services focused on the Telecom and Media, Technology, Manufacturing and Healthcare industry.

Related Infinite Computer Solutions (India) Ltd. Links:
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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