Birlasoft dips 11% in 2 days after stk turns ex-date for buyback, dividend

The board of Birlasoft, on May 23, 2022, had approved buyback of up to 7.8 million equity shares of Rs 2 each of the company at a price of Rs 500 per share through the tender offer

Shares of Birlasoft hit a 52-week low of Rs 307.60, declining 3 per cent on the BSE in Friday's intra-day trade. The stock of CK Birla Group software company has slipped 11 per cent in two days after it turned ex-date for share buyback on Thursday. The stock also turned ex-date for final dividend of Rs 3 per share yesterday.

The board of directors of Birlasoft, at their meeting held on May 23, 2022, had approved buyback of up to 7.8 million equity shares of Rs 2 each of the company at a price of Rs 500 per share