Shares of Nucleus Software Exports zoomed over 16 per cent on the Bombay Stock Exchange after the company said that its board has approved buyback of shares at a price not exceeding Rs 350 per share through tender offer.
Buoyed by the development, shares of the company gained as much as 16.01 per cent to hit 52-week high of Rs 329.50 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 313.50 against previous close price of Rs 284.00.
In a similar fashion, stocks of company were trading 10.28 per cent higher at Rs 313.25 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 30,106.57, up 163.33 points or 0.55 per cent, at 12:10 hour.