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B2B marketplace IndiaMART InterMesh on Monday said its board will consider a proposal to buy back shares of the company during its upcoming meeting on Thursday (July 20).
IndiaMART InterMESH stock rose up to Rs 5966.05 today against the previous close of Rs 5930.25 on BSE.
IndiaMART InterMESH Ltd has entered into a Share Purchase Agreement dated March 16, 2023 to disinvest its entire 30% stake in Equity Share Capital of Ten Times Online Private Limited by way of sale of 18,701 equity shares.
Shares of IndiaMART InterMESH rose up to 7 per cent today after the firm said its board will consider a buyback of shares on April 28. IndiaMART InterMESH stock gained 6.98 per cent to Rs 5144.95 today against the previous close of Rs 4809.20 on BSE. IndiaMART InterMESH stock is trading higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.
This investment is in line with the Company’s long-term objective of offering various Software as a Service (‘SAAS’) based solutions for businesses.