With an all-time high of 87,877%, this stock declares ₹50 Cr share buyback
With a market valuation of ₹8,799.11 Cr, Kama Holdings Ltd. is a mid-size company that belongs to the financial services industry. Through its three completely owned subsidiaries Shri Educare, KAMA Realty (Delhi), and SRF Transnational Holdings Ltd., Kama Holdings also engages in business in the fields of education, real estate, and finance.
The company said in a stock exchange filing that “We wish to inform you that the Board of Directors of the Company at its meeting held today i.e; Monday, December 12, 2022 (the “Board Meeting”) has, inter alia, approved Buyback of fully paid up Equity Shares of face value of INR 10 (Ten only) each not exceeding 34,500 (thirty four thousand five hundred only) Equity Shares (representing 0.53% of the total paidup equity share capital of the Company as on the date of Board Meeting) at a price of INR 14,500 (fourteen thousand five hundred only) per Equity Share payable in cash for an aggregate amount not exceeding INR 50,02,50,000 (Fifty Crores two lakhs and fifty thousand only).”
They further added that “In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 9(i) of SEBI (Buy -Back of Securities) Regulations, 2018 and other applicable provisions, we would like to inform you that the Board of Directors of the Company, at its meeting held on Monday, December 12, 2022, has fixed Friday, December 23, 2022 as the ‘Record Date’ to determine: (a) the entitlement and names of the shareholders who are eligible to participate; and (b) the shareholders to whom the Letter of Offer and Tender Form will be delivered in relation to the Buyback.”
The shares of Kama Holdings Ltd closed today at ₹13,636.50 apiece, down by 1.10% from the previous close of ₹13,788.05. The stock recorded a total volume of 689 shares compared to the 20-Day average volume of 3,032 shares. In the last 1 year, the stock has gained 39.55% and on a YTD basis, it has gained 27.41% so far in 2022. The stock had touched a 52-week-high of ₹14,600.00 on (13/09/2022) and a 52-week-low of ₹14,600.00 on (13/09/2022). The stock price has risen from ₹15.50 as of 19th July 2002 to the current market price, logging in at an all-time high of 87,877.42%. For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 75.00% and a public stake of 25.00%.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.